Michael Mullins (Fine Gael)

Will the Leader arrange a briefing from the Minister for Finance, Deputy Noonan, and the Financial Regulator early in the new year on the manner in which Irish banks do business? The matter has two elements. First, banks are failing to lend to small businesses and, in many cases, are not honouring existing overdraft arrangements. As a result of these policies, many small businesses and retail outlets will go to the wall in the new year.

Second, according to Mr. Charlie Weston in this morning's Irish Independent, non-commercial customers who are overdrawn on their bank accounts are being treated unfairly by the banks, yet the regulator has no plans to fine the latter. Instead, the Central Bank has directed a number of banks to cease treating customers poorly in terms of current account charges. This is a matter of grave concern to every banking customer. Being briefed by the Minister and the regulator on how banks propose to do business in 2012 would be appropriate. Unless we do something to free up credit to small businesses, there will be serious consequences for business.