Mr. Oliver Gilvarry:

On the ATMs, what we are bringing forward for the IADs, as Mr. Palmer outlined, is that these will have to be registered with the Central Bank. We are bringing in a supervisory or regulatory framework around them that does not exist today. That will give the Central Bank powers, under legislation, for regulations and that will deal with service standards.

On this issue, which we also hear about, that ATMs are down for periods of time, because there is no sense in having criteria for coverage and then the ATMs are not working and then you are moving, there will be regulations there for the services standards that would also include hours of operation and withdrawal limits. Denomination is also an issue that has come to the fore, and that will be something there so that it is not only giving out €50 or €100 notes. On that, there is a financial inclusion part. There are also outages and maximum down-time periods, and communication and signage. There is a framework that will come on the ATM operators, which is not there today.

In addition on withdrawals, under the legislation, they will be required to notify the Central Bank of any business changes including a two-month notice period before any ATMs are removed for the planned withdrawal or installation of ATMs. In notifying the Central Bank, the proposed Bill will bring in all that framework that, in fairness, the banks and other regulated entities are subject to. These are important pieces of our cash infrastructure and also important for consumers to be able to access. We will bring in that framework.