A meeting of the directors of AIB bank group tonight resolved to report within 30 days the results on an investigation into an €860 million alleged fraud loss.
AIB has decided to appoint an experienced person from within the industry to lead the investigation.
At a specially convened four-hour meeting the Board expressed its "extreme disquiet" that controls and supervision at Allfirst - the US subsidiary where the loss occurred - failed to identify the fraudulent activities at an earlier stage.
Management and control of all treasury activities throughout the group are to be centralised in AIB Capital Markets in Dublin as a result, the Board confirmed this evening.
An external expert also will be appointed be to work with AIB Capital Markets to ensure the centralisation process meets the highest standards.
The strength of AIB's underlying position was repeated by the Board in a statement after the meeting.
While the lawyer representing foreign exchange trader Mr John Rusnak - the man at the centre of the scam allegations - protested his client's innocence, bank executives are attempting to gauge the extent of any conspiracy or collusion in the affair.
Mr Rusnak has spoken to FBI agents called in by the company when he appeared to go missing earlier this week.