Gerald Nash (Louth, Labour) | Oireachtas source

That is completely understandable in light of the pressure they are under and with the additional expectations the banks have around staff. On that point, I am attracted to the FSU's proposal that every branch should have a desk that would be occupied by staff to help people to open new accounts. That would be a positive development. Ulster Bank said last week that it is working with the other banks to ensure there are staff available from the exiting and receiving banks to enable staff who are closing accounts in Ulster Bank to switch or open new accounts with the banks that are remaining in the market.

I have two further questions. The FSU has almost admitted that the timelines the banks have announced are just not achievable and that this cannot be realistically done in the customer-centred and customer-focused way the Central Bank wants it to be done until late 2023.

I would venture that Mr. O'Connell knows more about this than some people at senior levels of the banks. He deals with it every day, represents the staff and knows what the challenges are. Does he believe that if it is the case that those timelines, which were introduced by the banks themselves, are unrealistic and unachievable, the Central Bank should use the power it has to instruct them to extend that timeline? If they are committed to the customer-centred approach they say they are, will that not be required?