Joan Burton (Dublin West, Labour)
Link to this: Individually | In context

Question 419: To ask the Minister for Finance the progress that has been made regarding compliance with the requirement to provide and promote basic bank accounts in accordance with the bank recapitalisation scheme announced on 21 December 2008; the outcome that has resulted from the Financial Regulator's subsequent engagement with the recapitalised banks regarding the development of these accounts; if that engagement has resulted in a set of detailed criteria which basic bank accounts must meet and, if so, if he will specify those criteria; if any detailed targets have been set regarding the provision and promotion of basic bank accounts; the mechanisms that have been put in place to monitor the provision and promotion of basic bank accounts; and if he will make a statement on the matter. [31894/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
Link to this: Individually | In context

This commitment included in the Government's recapitalisation programme has been advanced in the first instance through the work of the Advisory Group on the National Payments Implementation Programme which examined as part of its work a number of important issues relating to the design, scope and provision of basic banking accounts in Ireland. The assessment and recommendations of the Advisory Group in this area are a very significant input into the design of a proposed strategy for promoting financial inclusion which is currently under development involving key stakeholders with relevant responsibilities.

Joan Burton (Dublin West, Labour)
Link to this: Individually | In context

Question 420: To ask the Minister for Finance his plans to ensure that the provision and promotion of basic bank accounts is a condition of any further recapitalisation and or extension of the bank guarantee scheme; and if he will make a statement on the matter. [31895/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
Link to this: Individually | In context

As part of the restructuring plan process currently underway with the European Commission it has been proposed that the domestic banking sector will be required to support and promote the availability of a basic bank account. This is to be done in the context of the implementation of the Government's strategy on financial inclusion in the State. Work has commenced on a review of the options available to achieve financial inclusion. The objective of the review will be to identify recommended actions to achieve a substantial reduction in financial exclusion over a 3-5 year period.