Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

That notion that, by the end of this year, the banks must have reached a certain level keeps reappearing. We were in Frankfurt a number of months ago and put it to the then chair of the ECB supervisory board, Ms Danièle Nouy, who categorically denied that there was any push on the banks to get to any particular figure. It keeps coming up and the banks keep telling us that they are required to reach the European average by the end of the year. It seems like someone is not telling us the full story.