Banking inquiry committee writes to possible witnesses

Chairman of the Oireachtas Banking Inquiry Committee, Deputy Ciarán Lynch, is writing to the Republic's financial institutions and other relevant bodies and individuals indicating that they may have to give evidence to it.

The committee has issued a statement confirming that it has begun writing to “categories of persons and organisations to which its terms of reference may relate”.

The Republic's banks, the Irish and European central banks and the International Monetary Fund are all said to feature on the list of those to which the chairman is writing.

However, Deputy Lynch stressed that it should not be taken as a clear indication that all those who receive letters will ultimately be called before the inquiry or asked to provide documents or other evidence.

He explained that the committee is making preliminary contact in order to establish clear lines of communication.

“Essentially, by taking this action, what we are asking for is that a person be designated in the various organisations with whom the inquiry secretariat can liaise directly regarding our work,” he said.

The Oireachtas is due to debate the motions to establish the inquiry within a matter of weeks and its work will begin immediately after that.

The committee is setting out to address the reasons behind the banking crisis which struck in 2008.