Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I thank Mr. Gunning. Could he remind us of the definition of a dormant account, in terms of the period for which an account must be inactive? Given his experience of the amount of dormant accounts that were in the banks and financial institutions, could he give an estimate of what might be the percentage of the deposit base that could be classified as dormant accounts? What was the typical percentage in the banks, for example? If credit unions set up a section 44 special fund, as opposed to transferring dormant accounts into the dormant accounts fund, what would they do with such a special fund and what would be the status of it and its intended purpose?