Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

In respect of the desire of the House in relation to accountability over how our citizens have been disgracefully treated in this, I remind Deputies that I made the point a moment ago that the Central Bank has already imposed a fine on Springboard in respect of this and other matters. It is my strong view that the manner in which banks have handled the probe for the Central Bank, and the recent behaviour of the banks in the management of this issue are unacceptable. It shines a light not only into the culture of our banking system at the time this issue originated, but also into the culture of our banking system now. Neither is acceptable to me.

I am supporting the Central Bank in its work around the probe. I believe that all who are owed money should have it repaid to them and I am supporting the Central Bank in this regard. In regard to accountability and the outcome of this process, which Deputies Michael McGrath and Pearse Doherty have raised with me, enforcement proceedings are already under way by the Central Bank in respect of two banks. This shows the determination of the Central Bank to move this matter to closure. I encourage the Central Bank to use all the powers available to it in regard to this issue, as I believe it will do.

I met the Governor of the Central Bank, Professor Philip Lane, yesterday to discuss this issue. I am confident that all of the powers that are available to the Central Bank will be used if the latter stages of its probe vindicates their use and if the bank can stand over conclusions that emerge from it, which I believe it will be able to do. In regard to the issues raised by both Deputies today, my message is that the people who are owed money should have it repaid to them. They have been treated disgracefully by our banks in the latter part of this probe and I want to see that changed.

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