Rose Conway Walsh (Sinn Fein) | Oireachtas source

It is about having accountability front and centre, not just explaining it away as part of the culture. I understand everything feeds into everything else, into the ethos of the bank, with everybody making a contribution. It is amazing in the way financial institutions have been run – perhaps that is why they have been run into the ground – that it has not been the practice for job descriptions to match each person's accountability, with everything fitting together. How can any organisation be run if it does not have very basic mechanics? We need to be careful. Mr. Crowley cites the experience in the United Kingdom in terms of how long it took to implement the regime. If there was the will to implement it, it should be implemented in an expedient and faster way. I understand it takes longer to change the culture, but on too many occasions we hide behind that word. Whether it be in the insurance industry, the financial industry or elsewhere, we say, "It is the culture," and tend to excuse things in that way. This is a real opportunity for us to have accountability front and centre in order that people can have trust in the institutions.

There is something else that concerns me. We have a bank-funded Irish Banking Culture Board. It reminds me a little of the old trick where, if something was found out, we put practices in place. When the pressure is suddenly on, we are great believers in oversight, as long as it is on our terms. Can Mr. Crowley reassure me in that regard? Given that the board is funded by the banking industry, how do we know that it will not be influenced by the paymasters?