Brian Cowen (Laois-Offaly, Fianna Fail)

There is no date for the publication of the legislation to which the Deputy refers. However, the Credit Institutions (Financial Support) Act 2008 gives the Minister statutory and wide-ranging powers to ensure that prudent lending practices will be the norm in our banking industry in the future. The powers to which I refer will allow the Government to have a far more direct influence in respect of this matter than would have been the case previously. There is no need to wait for the introduction of further legislation in order for the Minister to be active — which he already is — in that area.

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