Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

The primary interests of individuals on the boards of these banks is to meet their obligations to that bank as directors. I will be defining the terms of reference of those director roles myself, because I have a strong view on the kind of individuals required and the needs we must meet on the board. We will then advertise for these roles, as I have said. I also plan to make use of other things that may be open to me to identify people who may be able to do this work but who might not be aware of these opportunities. I am sure the Deputy is aware that as part of their appointment process, these individuals must also be approved by the Single Supervisory Mechanism. It is not just a decision for the Government. We can put forward names that are accepted by the nomination committee of the banks but they have a final hurdle to clear in the form of the Single Supervisory Mechanism of the ECB. I have to keep that in mind when I am identifying individuals. That is why I have said that I am going to take steps to see if I or my Department can identify such individuals, because these are really important roles and I want to see them well filled.