Mr. Dick Spring:

I assure Deputy Higgins that if it is the wish or recommendation of the joint committee that there should be a formal reporting structure, I do not have a difficulty. The more information in the public, the better it is for everybody. There are many misconceptions on what the banks are and are not doing. As Dr. Somers said, all the information is available to the Department currently. We were appointed by the previous Minister for Finance, sadly no longer with us, and the current Minister wishes to retain us on the board. I assume the joint committee will prepare a report after these meetings. If its recommendation is for a formal reporting structure, we will strongly support it.