Brian Cowen (Laois-Offaly, Fianna Fail)

A draft delegation order is being prepared. Questions are to the Minister for Finance this afternoon which will allow Members to ask detailed questions on this issue. We are designating the NTMA to deal with the banks in regard to areas which are currently a matter for either the Central Bank, the regulator, the Department of Finance or the NTMA. Our objective is to have the story told in one place and to ensure that there is proper liaison with the banks in respect of these matters. There will be a continuing role for the Central Bank and the Minister for Finance which will be in no way different in terms of their responsibilities, and the Government will continue to make decisions in this area. We are talking about an operational matter that will enable one institution to deal with the banks in respect of many of these matters which can then be referred back to the Minister and the Government in due course.

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