Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Let us take Ulster Bank, for example, which has announced it is splitting its businesses from being an all-Ireland institution which reports to Britain to reporting on a Twenty-six Counties and Six Counties basis. Just to tease this out, let us hypothesise that the bank would take another leap, with the southern business being regulated under the Central Bank. Where would Ulster Bank be then? Would the bank automatically have to contribute to the fund, meaning there would be four banks instead of three? Is that an automatic process or would the bank have to make an application? Would the Minister have to sign an order or write to the European Central Bank about this? How does it work? Is it automatic?