Arthur Morgan (Louth, Sinn Fein)
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Question 135: To ask the Minister for Finance the meetings or correspondence he or his officials have had with the chief executives of the six largest retail banks here; and if he will make a statement on the matter. [12798/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I am assuming that the Deputy is referring to the six largest banks which are covered under by the Government's Bank Guarantee Scheme. In my reply to a parliamentary question from the Deputy on 18 February, I advised of the chief executives myself and/or my officials had met and corresponded with since January 2009. In the interim period, my officials and I have either met or corresponded with the chief executives of Bank of Ireland, AIB, EBS and Irish Nationwide Building Society, the executive chairman of Anglo Irish Bank, and the senior executive director of Irish Life and Permanent.

Arthur Morgan (Louth, Sinn Fein)
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Question 136: To ask the Minister for Finance if, in view of the fact that banks (details supplied) are effectively nationalised retail banks operating in financial markets here, his attention has been drawn to the details of the take-over process undertaken by the British Government; his views on such an option for the Irish banks that he proposed recapitalising; and if he will make a statement on the matter. [12799/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Of the banks the deputy has listed in the UK, only one has been nationalised; the UK Government have taken significant shareholdings in the others. The Irish Government took the decisive step of nationalising Anglo Irish Bank because of concerns about governance issues and the market confidence in Anglo Irish Bank. The Deputy is aware that I announced on 11th February the recapitalisation programme for Allied Irish Bank and Bank of Ireland. Shareholders in Bank of Ireland voted in favour of the recapitalisation proposal last Friday, 27th March, at their Extraordinary General Court. AIB is scheduled to hold its EGM in the near future.

The recapitalised banks have reconfirmed their commitment to an extensive credit package which will help to increase lending capacity to small and medium enterprises by 10% and to provide an additional 30% capacity for lending to first time buyers in 2009. The credit package also provides for a €100m environmental and clean energy innovation fund to be established by each bank. All the steps that I have outlined have been taken by the Government to ensure that the public interest is secured so that the financial system in Ireland meets the everyday financial needs of individuals, businesses and the overall economy.