Frances Fitzgerald (Dublin Mid West, Fine Gael) | Oireachtas source

What is needed is action to ensure that the people who have suffered most - those families who have been so impacted by this scandalous behaviour - get redress. That is what the Government is focusing on over the next number of months to ensure there is a speedy response for these families. That is the action which has clearly been taken. What we have now is a deadline for dealing with these issues. The banks will continue to be under pressure to provide accurate information on the numbers and how they intend to deal with this. The action that has been taken is to ensure and insist that the Governor of the Central Bank prepares a report on the progress between now and early December, which is only a number of weeks away, on the action by the banks. That supervisory and monitoring role will provide a report to Government in early December. Depending on the outcome of the report and the actions of the banks, the Minister has indicated the actions he may feel are necessary to strengthen the powers of either the Central Bank or the Minister and he has made it very clear that, as a shareholder, he will take action if these results are not forthcoming by December.

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