Brian Hayes (Dublin South West, Fine Gael)

A levy will be introduced but it will take some time for that to happen. The timelines the Government has set require that the parameters of the fund be established by the end of this year. That gives us some time to work out the scope of the levy. We should not assume that it will be paid for by customers. One of the Government's recapitalisation objectives is to make a smaller banking system, without creating what Senator Barrett referred to as a duopoly. A better funded and more efficient fund within the banks is required. The resolution fund must be a fundamental part of this process.