Tuesday 12 December 2017

Who will lead the probe and how it will work

A PANEL of experts carry out an independent review and preliminary investigation into the banking crisis.

A report from the governor of the Central Bank on the role of the bank and the Financial Regulator will also be produced.

An Oireachtas committee will meet the governor of the Central Bank and the independent experts who are drawing up both reports and detail what areas the Dail and Seanad want covered.

Both reports are to be started "as soon as possible" and completed by May 31 of this year.

Following the completion of these reports, an independent commission of investigation will be established by the end of June, using the reports to inform its terms of reference.

The two reports will also go before an Oireachtas committee, which will be "invited to consider" the findings.

The commission will be chaired by an expert of "high standing" and will examine the crisis which led up to the blanket guarantee, the nationalisation of Anglo, and the various recapitalisations.

The terms of reference and Government order to establish the commission will also go before the Oireachtas.

Irish Independent

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