Brian Cowen (Laois-Offaly, Fianna Fail)

In setting out the recapitalisation plans for the banks, the Minister for Finance gave a statement to the House indicating that he is awaiting sectoral plans from the banking system in respect of those banks that are in the process of recapitalising. Bank of Ireland is doing so currently. It is about making sure the €3 billion per year that the Minister has outlined for this year and next to be provided for lending to business will be enumerated and that it is set out to him and to the regulator how that is intended to be done by the banks. We are in the process of recapitalising the banks and in the process of obtaining those plans in coming weeks. The Government will do everything it can to ensure those targets are met by the banks.

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