The Oireachtas Banking Inquiry has agreed to hold its first public meetings as part of the inquiry context phase on Wednesday, December 17th 2014.
Chairman Ciaran Lynch TD: “The Committee agreed to start our public hearings on December 17th when we will meet with Finnish academic and finance expert Peter Nyberg who wrote the report of the Commission of Investigation into the Banking Sector, Misjudging Risk: Causes of the Systemic Banking Crisis In Ireland.
“On 18th December, Rob Wright, the former Canadian Secretary General of Finance who authored an independent report into the Department of Finance, will appear before the Committee.
“On behalf of the Committee, I am pleased that the Inquiry is on schedule and is now in full operational mode. The context phase with relevant witnesses for the purpose of information-gathering to inform the Nexus Phase of the Inquiry will be completed in March as envisaged. The Nexus Phase, which will focus on three broad elements – Banking Systems & Practices; Regulatory and Supervisory Systems & Practices; and Crisis management systems and policy responses – will start in April as planned. The Committee will present its final report in November
“I understand that people have waited a long time for this inquiry to be established, but it is necessary to understand that this is the first inquiry of its type to take place under new legislation. Therefore, the onus is on us to make sure we get everything right from the start.
“It is critical that the proper preparations are put in place. The Committee has a duty and a responsibility to ensure all witnesses are dealt with in a fair and appropriate manner, that the requirements of fair procedure are met and, in doing so, minimise the opportunity for legal challenge.
“We are at the beginning of a journey of work which I believe is an opportunity to demonstrate that the Irish parliament can hold a fair and balanced inquiry to find answers to many key questions that remain to be answered about the banking crisis.”
All media enquiries in relation to the Oireachtas Banking Inquiry should be addressed to:
Houses of the Oireachtas,
P: +3531 618 3903
F: +3531 618 4551
Ciarán Lynch (Chairman)
John Paul Phelan
Sean D Barrett