Gerald Nash (Louth, Labour) | Oireachtas source

I believe it is fair to say that KBC Ireland is in a hurry to leave this market. We were all stunned when KBC announced that, essentially, it was giving customers three months to close their accounts, to deal with everything that is involved with switching or closing an account, and to move to a new provider. We know from the experience of bank customers in the market that even under normal circumstances this can be very challenging. I note that KBC has agreed to extend this period by another three months. Did the Central Bank instruct KBC to do that or did KBC make that decision itself? We had discussions with the Central Bank when it appeared before this committee in early April. The Central Bank put on the record that it did not believe the exiting or the receiving banks were in a position at that point in time to properly execute this process. Will Mr. Jansen be clear to the committee: did the Central Bank ask KBC to extend the period? Did KBC make that decision itself or in consultation with the Central Bank?