Richard Bruton (Dublin North Central, Fine Gael)
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Question 184: To ask the Minister for Finance the expertise being recruited to help manage the new relationship and protect the taxpayer in view of the dramatically changed relationship between banks and the Government. [45229/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Within my Department, arrangements have been made to allocate additional staff to the Financial Services Division to manage the Credit Institutions (Financial Support) Scheme and related matters. These staff have been provided from within the existing staff resource allocation. These staff have access to professional financial and legal advice as required and they will be working closely with the Financial Regulator.

The Financial Regulator, who has the primary day to day involvement with the covered institutions, is in the process of recruiting up to twenty additional staff with expertise in credit, treasury and market risk. These staff will be based on-site in the credit institutions covered by the Scheme and will focus on in-depth analysis of banking activities, assessing banking risks and engaging with individual banks on key risk areas and capital adequacy. The Financial Regulator advises me that this recruitment process will be completed as soon as possible.