Seymour Crawford (Cavan-Monaghan, Fine Gael)
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Question 45: To ask the Minister for Finance if there are consequences for any persons in leadership positions arising from the two bank inquiry reports that have been published. [25700/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The Government agreed at its meeting on Wednesday 9 June that the preliminary reports, The Irish banking crisis: regulatory and financial stability policy 2003 – 2008, by the Governor of the Central Bank, and A preliminary report on the sources of Ireland's banking crisis, by Klaus Regling and Max Watson, be laid before both Houses of the Oireachtas.

These reports are preliminary, scoping reports, which are intended to point the way to more detailed examination of specific issues by a statutory Commission of Investigation. The Government has, in addition, published draft terms of reference for the Commission of Investigation, for consideration by the Oireachtas. It is proposed that the final terms of reference be included in a Government Order to be voted on by both Houses of the Oireachtas before being signed by the Taoiseach. It will be a matter for the Commission, when established, to investigate those issues set out in the terms of reference, in accordance with its powers under the Commissions of Investigation Act 2004 and, in this regard, I do not wish to pre-empt any findings the Commission may make.

It might also be noted that the report by Messrs Regling and Watson distinguishes between issues that lend themselves to a formal process of investigation and issues that are, in general, less amenable to a legally-oriented process of investigation and may be more appropriate to policy review.

The Government has published a draft terms of reference for a statutory Commission of Investigation having regard to the recommendations of both preliminary reports. The Oireachtas will be invited to vote on a resolution approving a draft Government Order to establish a Commission in due course.