17 Noll 2012, 10:18
The public interest directors in the covered banks will appear before the Committee on Finance, Public Expenditure and Reform this week to discuss their roles and responsibilities.
•Margaret Hayes and Ray MacSharry, PTSB Public Interest Directors, will appear before the Committee at 3pm on Wednesday, 19th December 2012.
•Tom Considine and Joe Walsh, public interest directors at Bank of Ireland will attend the committee meeting on Thursday 20th December 2012 in Committee Room 4 at 9.30am.
•Dick Spring, public interest director at AIB and Dr Michael Somers Government appointed nominee at AIB will come before the Committee at 12.30pm on Thursday, 20th December.
Ciarán Lynch, TD, Chairman of the Committee on Finance, Public Expenditure and Reform, said: “Our meetings this week provide us with an opportunity to get an overview of the roles, responsibilities, duties and contribution of the public interest directors on the boards of banks which have been bailed out by the State. We will also be interested in receiving an outline of how the public interest directors have reported on their roles as directors.
“Among the other 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; how have they reported on their role and to whom do they report; what is their contribution to the banks’ policies, in particular the function they have in setting the rates of pay and the remuneration policy at their particular bank for management and senior executives. We will also be keen to consider what scrutiny they apply to the banks’ lending policies, such as lending to SMEs and assisting struggling mortgage holders.”
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
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
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
Simon Harris, Fine Gael
Aodhán Ó'Ríordáin, Labour Party
Senators
Sean D Barrett
Thomas Byrne
Paul Coghlan
Michael D’Arcy
Aideen Hayden
Tom Sheahan