Oireachtas Banking Inquiry to hear from Dermot Gleeson and Donal Forde

22/04/2015

The Oireachtas Banking Inquiry will hear from Dermot Gleeson, former Chairman of AIB, and Donal Forde, former managing director of AIB in the Republic of Ireland, as part of its Nexus Phase hearings on Thursday, 23rd April.

The Nexus Phase, when the Committee will engage with institutions and individuals who had roles relating to the crisis, will focus on three broad elements — Banking Systems & Practices; Regulatory and Supervisory Systems & Practices; and Crisis management systems and policy responses — and how these three elements interacted with each other.

Chairman Ciaran Lynch TD said: “The Committee will discuss a number of issues with Mr Gleeson, including the composition skills and experience of the board and board sub committees; the quality of the business model setting process; the adequacy of board oversight over internal controls to ensure risk is properly identified, managed and monitored; the appropriateness of property related lending strategies and risk appetite; the adequacy of incentive and remuneration arrangements to promote sound risk governance; the appropriateness of the Bank Guarantee decision; and the nature and appropriateness of the relationship between the Central Bank, including the Financial Regulator, and the Department of Finance and the banking institutions.

“Among the issues which we will address with Mr Forde are: the appropriateness of credit policies, delegated authorities and exception management; the adequacy of the property valuation policies and assumptions in terms of the assessment of loan security; appropriateness of funding sources; the liquidity versus solvency of the banks debate; and appropriateness of the Bank Guarantee decision.”

Nexus Phase hearings will run from on Wednesday, 22nd April until the middle of September with a total of 64 public hearings planned. It is envisaged that at least 60 witnesses will be called to the public hearings.

Deputy Lynch said: “This phase of our hearings includes a move by the Committee to compelling witnesses and statements and the use of evidence. Under the witness management protocol, there will be a structured witness engagement with a seven week lead-in between the notification and the public hearing. The protocol includes timescales, evidence books and technical briefings.”

The meeting with Dermot Gleeson will start in Committee Room 1, Leinster House at 9.30am. The meeting with Donal Forde will take place in Committee Room 1 at 2.30pm.

Further information on the Oireachtas Banking Inquiry can be accessed on this website.

Committee proceedings can also be viewed on the move, through the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.

All media enquiries in relation to the Oireachtas Banking Inquiry should be addressed to:

Ciaran Brennan,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2

P: +3531 618 3903
M: 086-0496518
F: +3531 618 4551

All general enquiries should be directed to the Committee Secretariat.

e. contactbankinquiry@oireachtas.ie
t. +353 1 618 3651

Committee Membership

Deputies

Ciarán Lynch (Chairman)
Pearse Doherty
Joe Higgins
Michael McGrath
Eoghan Murphy
Kieran O’Donnell
John Paul Phelan

Senators

Sean D Barrett
Michael D’Arcy
Marc MacSharry
Susan O’Keeffe