Gerry Horkan (Fianna Fail) | Oireachtas source

It would be useful in the final report to see the costs the banks incurred in having to employ all those people to sort out their own mess, plus the total cost of redress and of compensation. Ultimately, there will obviously be fines, enforcement, and so on.

I assume the process is ongoing and that, therefore, the witnesses cannot comment in detail on the enforcement action. Nevertheless, many people still wonder how every bank managed to make the same mistakes in the same way independently of one another. It stretches credibility to imagine there was not somebody speaking somewhere because they all managed to do the same thing in the same way at the same time to their customers, and it does not help.

On that basis, the committee has discussed the culture of banking in recent weeks. What are the witnesses' thoughts on how banking culture has developed and how it needs to develop in future?