5 Samh 2012, 11:14
The Committee on Finance, Public Expenditure and Reform has agreed to call on the public interest directors in the covered banks to attend a meeting to discuss their roles and responsibilities.
Ciarán Lynch, TD, Chairman of the Committee on Finance, Public Expenditure and Reform, said: “As part of the Committee’s banking module, members have agreed to invite the public interest directors on the boards of banks which have been bailed out by the State to discuss their role, responsibilities, duties and functions in these institutions.
Among the issues we will want to address with the public interest directors are: what distinguishes them from the other directors on the banks’ boards; how do they invoke and carry out their roles; what are their responsibilities; who do they report to; and what scrutiny do they apply to the banks’ lending policies, such as lending to SMEs in particular to ensure that they comply with the guidelines and options arising from the Keane Report to assist struggling mortgage holders such as split mortgages and mortgage to rent options.
The Committee has already met with senior executives in IBRC, AIB and Bank of Ireland where they were questioned on the operations and functions of their respective banks, including the recapitalisation process, restructuring and rationalisation of the banks and examine how this may impact on branch numbers, staffing, customer service and lending.”
For further information please contact:
Ciaran Brennan,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2
P: +3531 618 3903
M: 086-0496518
F: +3531 618 4551
Committee Membership
Deputies
Richard Boyd-Barrett, People Before Profit
Michael Creed, Fine Gael
Jim Daly, Fine Gael
Pearse Doherty, Sinn Fein
Stephen Donnelly, Independent
Sean Fleming, Fianna Fáil
Joe Higgins, Socialist Party
Heather Humphreys, Fine Gael
Kevin Humphreys, Labour Party
Peter Mathews, Fine Gael
Mary Lou McDonald, Sinn Fein
Ciarán Lynch, Labour Party (Chairman)
Michael McGrath, Fianna Fáil
Michael McNamara, Labour Party
Dara Murphy, Fine Gael
Timmy Dooley, Fianna Fáil
Kieran O’Donnell, Fine Gael
Arthur Spring, Labour Party
Brian Stanley, Sinn Féin
Billy Timmins, Fine Gael
Liam Twomey, Fine Gael
Senators
Sean D Barrett
Thomas Byrne
Paul Coghlan
Michael D’Arcy
Aideen Hayden
Tom Sheahan