Seanad debates

Thursday, 18 December 2008

Banking Sector Regulation

 

2:00 pm

Photo of Máire HoctorMáire Hoctor (Tipperary North, Fianna Fail)

I reject outright the assertion that I have spent the past six minutes reporting nothing to Senator Ross or into the Official Report. The Senator has received an updated position on the current economic situation. The Department and the Government have provided support to the banks. After that, the lending of funds to commercial enterprises and small businesses is a matter for the banks concerned.

I am aware of at least one bank which indicated clearly to me recently that it was open for business and for small and medium enterprises. Ulster Bank made it clear it has changed its policy. I cannot speak for other banks. The Government has made every effort but it cannot decide who receives a loan and who does not.

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