The Oireachtas Banking Inquiry Committee has started the process of writing to categories of persons and organisations to which its terms of reference may relate.<\/p>\n
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Chairman Ciaran Lynch TD: \u201cThe motions in the Houses to establish the inquiry are expected to be taken in a matter of weeks, with work starting immediately and the Inquiry in place and in full operation after that. Therefore, we are presently making preliminary contact with persons or categories of persons to whom the terms of reference of the inquiry may relate, in order to establish and put in place clear lines of communication at this early stage. However, this should not be taken as an indication that all these persons or organisations will in fact be called before the inquiry or asked for documents or other evidence. Essentially, by taking this action, what we are asking for is that a person be designated in the various organisations with whom the Inquiry secretariat can liaise directly regarding our work.\u201d<\/p>\n
The Inquiry proposal agreed by the Committee sets out to address the reasons Ireland experienced a systemic banking crisis, including the political, economic, cultural, financial and behavioural factors and policies which impacted or contributed to the crisis, and to do this by investigating the relevant matters relating to banking systems and practices, regulatory and supervisory systems and practices, crisis management systems, and policy responses ad the preventative reforms implemented in the wake of the crisis.<\/p>\n
The Context Phase of the Inquiry which is expected to commence in the coming weeks will consist of technical briefings for the Committee in areas such as bank lending and liquidity management, mortgage exposures, and the nature, cost and scope of the guarantee decision. There will be public hearings with relevant witnesses for the purpose of information-gathering to inform the Nexus Phase of the Inquiry which will focus on three broad elements:<\/p>\n
\u2022\u00a0\u00a0\u00a0 Banking Systems & Practices,
\n\u2022\u00a0\u00a0\u00a0 Regulatory and Supervisory Systems & Practices, and
\n\u2022\u00a0\u00a0\u00a0 Crisis management systems and policy responses.<\/p>\n