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

With that said, I will bring matters to a conclusion. I thank Mr. Masding, Mr. O'Sullivan, Mr. Mitchell and Mr. Groarke. That concludes this module of meetings with the banks. We will meet the Governor of the Central Bank on 25 September. As other members said, I appreciate the modelling of how these witnesses laid out the resolution process. It was helpful. We will communicate with other banks to give us data using the same modelling process. That will inform our engagement with the Governor of the Central Bank as we deal with the issue of what is resolution and what is not.

As I said to other institutions, the target figure of 20% set for 30 June is an increasing figure, to reach 30% by the end of this month and 50% by the end of the year. We will be engaging with the banks on an ongoing basis and we expect to engage early in the new year, when the 50% target has been met. We wish the bank success in reaching that target in a way that is sustainable-----