Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I strongly believe the Central Bank has a role here. This committee engages with the Central Bank and we have seen an approach from it, which is playing out in public, that is to be welcomed. It is one thing to issue statements and do round tables with CEOs to say they are not ready, but it should not allow KBC to issue letters until it is ready. It should not have happened with Ulster Bank either. People are concerned and it is a major issue.

KBC staff will be made redundant. In April, they received a pay increase of 2.5%, which is below what the sector secured more widely. Do the witnesses have comments on this and the position it puts staff in who are now facing redundancy in that bank?