Eamon Gilmore (Dún Laoghaire, Labour)
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Question 23: To ask the Minister for Finance if he will provide an update on prospective realignments within the Irish domestic banking sector; if he will provide updates with respect to the future of EBS, Irish Nationwide Building Society, Anglo Irish Bank and Irish Life and Permanent; and if he will make a statement on the matter. [25618/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The Deputy will be aware that, under EU State-aid rules, financial institutions in receipt of State aid must submit restructuring plans to the European Commission. To-date, plans have been submitted to the Commission in respect of Anglo-Irish Bank, Bank of Ireland, Allied Irish Banks and the EBS Building Society. A restructuring plan in respect of Irish Nationwide Building Society is due to be submitted to the EU in the near future. Irish Life and Permanent will also have to submit a viability plan to the Commission by 30 September, 2010.

Pending the European Commission's final decisions on the various plans, it is not possible at this stage to be definitive as regards possible realignments or development of the domestic banking sector. Any decision on the future of the domestic banking sector will be subject to the approval of the European Commission in the context of the restructuring process. These decisions will also be informed by the views of the Central Bank, the Financial Regulator and the NTMA. In that regard, the NTMA has been assigned responsibility to lead discussions, in consultation with my Department, with all interested parties on the restructuring of the financial system.