The Government is considering launching a formal Commission of Investigation to examine transactions involving the former IBRC.
It is understood the Minister for Finance Michael Noonan will present proposals today at a meeting of the Cabinet.
A Commission would have greater legal standing than a review by Special Liquidators Kieran Wallace and Eamonn Richardson which had been due to look back over larger deals involving losses for the bank.
A new probe to be established under the Commissions of Investigation Act, 2004 will have greater legal standing and broader scope than the current review of deals.
A judge or retired judge is likely to be appointed to lead the Commission.
There is no suggestion of wrong doing at the bank, but the Minister is understood to be reacting to the heightened public interest in the bank in recent weeks.
Minister Noonan and the Attorney General Marie Whelan are understood to have worked on terms of reference for the new probe - which have yet to be signed off - over the weekend.
Minister Noonan had been due to travel to Paris today for a meeting of European ministers but has stayed in Dublin to bring his proposals to Cabinet.
A First off because we can. At the High Court yesterday Mr Justice Donald Binchy confirmed that the media can report last week's speech in the Dáil by Independent TD Catherine Murphy, when she said she was "lead to believe" that Mr O'Brien was charged an interest rate of 1.25pc on loans he had with the former Irish Bank Resolution Corporation, and when she described such a rate as "extremely favourable." Denis O'Brien had previously gone to the High Court to stop details of his banking relationships being published by RTÉ and has said that at least some of what Catherine Murphy said is incorrect.
The following is the statement made by Catherine Murphy in the Dáil on May 28 as she introduced a bill to permit the Comptroller and Auditor General to investigate the sale of Siteserv to Denis O'Brien:
After a weekend of intense speculation, the High Court clarified that the injunction restraining RTÉ from broadcasting a report on Denis O'Brien's financial affairs did not preclude reporting of Catherine Murphy's subsequent Dáil speech on the same issues.
The High Court has published a redacted judgement on its decision for granting businessman Denis O’Brien a temporary injunction stopping RTE from broadcasting details of his personal banking affairs.