Séamus Hughes
Question:45 Mr. Hughes asked the Minister for Finance when he will report on the findings of his Department in relation to their examination of dormant bank accounts; and if he will make a statement on the matter. [1754/95]
Written Answers. - Dormant Bank Accounts.
The Deputy will be aware that following receipt of data from both banks and the building societies on the extent to which these "dormant" accounts exist, and the amount of money involved, my predecessor asked in October last that further research in the matter be undertaken. This is still ongoing, but, as has been previously explained in earlier replies on this topic, the task is not an easy one, having regard to the number of accounts to be examined. In addition, there are serious legal, definitional and constitutional issues involved.
The building societies have recently provided me with their views in the matter, and I expect a response from the banks in the near future. When I have this, I will consider what further action is necessary.