Finance Committee to meet PTSB Public Interest Directors

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.

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.

Tomorrow, we will have a chance to address a number of issues with PTSB Public Interest Directors Margaret Hayes and Ray MacSharry, in particular, 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 for management and senior executives at their bank.”

This meeting will start in Committee Room 4, Leinster House at 3pm on Wednesday, 19th December Committee proceedings can be followed live at:

http://bit.ly/24YmPI

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