Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

We will continue with No. 5 on today's agenda, which is an overview of the financial sector. The next module involves representatives of Ulster Bank. I welcome Mr. Jim Brown, who is the chief executive of the bank. Mr. Brown is accompanied by Mr. Stephen Bell, who is the chief risk officer of the Ulster Bank Group, and Mr. Tom Leahy, who is the southern regional director of Ulster Bank's corporate banking division. Mr. Brown will make some opening remarks, which will be followed by a question and answer session. I remind members, witnesses and those in the Gallery that all mobile telephones must be switched off.

I advise the witnesses that by virtue of section 17(2)(l) of the Defamation Act 2009, they are protected by absolute privilege in respect of their evidence to this committee. If they are directed by the committee to cease giving evidence on a particular matter and they continue to do so, they will be entitled thereafter only to a qualified privilege in respect of their evidence. They are directed that only evidence connected with the subject matter of these proceedings is to be given. They are asked to respect the parliamentary practice to the effect that, where possible, they should not criticise or make charges against a person, persons or entity by name or in such a way as to make him, her or it identifiable. Members are reminded of the long-standing ruling of the Chair to the effect that they should not comment on, criticise or make charges against a person outside the Houses or an official by name or in such a way as to make him or her identifiable.

Before I ask Mr. Brown to make his opening statement, I remind the witnesses that the main focus of today's meeting is on the general performance of Ulster Bank and the other banks. In addition, we are focusing on how the target figure of 20% by the end of June was arrived at. We are also keen to get a statistical breakdown of how many people are now in a resolution process. What is the menu of resolutions being applied in such cases? I invite Mr. Brown to make his opening statement.