THE Department of Finance has confirmed that no proposals on the future of the TSB bank will be put to cabinet before the autumn. A spokesman for the Minister for Finance, Mr Quinn, said: "the Minister hopes to examine the matter further during August and move it forward in September".

It is understood that firm proposals involving the sale of the bank may be presented to Cabinet in September. However, a number of issues are still to resolved.

Broad agreement on strategy for the TSB and the two state banks, ACC and ICC, has been reached by the programme managers representing the minister on the cabinet sub committee set up to look at the issue.

As expected the TSB will be sold off and the money raised used in part to refinance ACC and ICC.