Neale Richmond (Dublin Rathdown, Fine Gael) | Oireachtas source

I will follow on from the points made by Deputy Tóibín and I thank him for raising what I have written down. The witnesses will find that many of us have the same questions today.

There is a reference in the written submission we received from Ulster Bank to the lessons that can be derived from this extremely regrettable decision by the Irish banking sector and, crucially, by the Irish Government and the Central Bank of Ireland. Regarding engagement that may have taken place with the Government, how many times did the CEO of NatWest Bank meet with representatives of the Central Bank of Ireland in the past year? Were they able to discuss this matter and address concerns?

Regarding the staff and the treatment of workers, I am concerned about the pensions of those staff who have already retired from Ulster Bank and how current staff may be impacted in this regard. Another important point was brought to my attention by an 85-year-old resident of Dundrum who contacted me because she was wondering if her ATM card will continue to work next Monday in the bank. People are also wondering, more forcefully, what will happen to their mortgages and business accounts. What is Ulster Bank doing now in respect of those who want to switch? How is that process being facilitated, how is Ulster Bank working with those customers who have very understandable concerns about the future of their bank accounts and what more can be done?

Like everyone else, we are extremely disappointed by this move. I appreciate this is disappointing for all of the workers in Ulster Bank and that includes the witnesses, so I do not want to sound cold in my comments either.