Jim O'Callaghan (Dublin Bay South, Fianna Fail) | Oireachtas source

I thank Mr. O'Connell and Mr. McDowell for coming before us. Mr. O'Connell is correct to say that the exit of these two banks is the biggest logistical event to happen in the sector since the introduction of the euro. Last week, we had representatives of the three remaining banks before the committee. They also accepted that it is an extremely significant event. The reason the committee has invited today's witnesses before us and why we invited the banks before us is that we have a concern that when the banks exit, there may be some chaos left behind. There are hundreds of thousands of people who need to transfer their accounts from the departing banks to the remaining banks. The witnesses will agree that we are not being irrational or overexcited in having a concern about this. Last week, representatives of the banks were before the committee and I asked each of them individually what extra resources the banks had put in place to ensure they could facilitate face-to-face meetings between bankers in the remaining banks and new customers. They gave answers. I do not know if the witnesses before us had an opportunity to hear what they said. They answered that they fully recognised the issue and had allocated more resources to deal with the impending new customers. Are they misleading us or are they just painting a rosy picture?