Brian Cowen (Laois-Offaly, Fianna Fail)

The Minister for Finance will be introducing proposals soon on how to restore public confidence in the regulation and supervision of our banking system. That is a priority. The Director of Corporate Enforcement has two gardaí from the fraud squad working as investigators on the issues he is examining.

In regard to the four main banks, three people have resigned, or have indicated their retirement. Changes are taking place. There is a new board in one of the banks, which we discussed earlier. Directors have been appointed by the Minister to guarantee the public interest and more will be appointed when the recapitalisation programme is completed. Significant changes are taking place both at executive and non-executive levels. I am sure that trend will continue.

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