Paschal Donohoe (Dublin Central, Fine Gael)
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Question 73: To ask the Minister for Finance the progress made on the commitment in the recapitalisation programme on the obligation to provide and promote basic or introductory bank accounts; and if he will make a statement on the matter. [12410/11]

Michael Noonan (Limerick City, Fine Gael)
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As part of the restructuring plan process currently under way 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 recently concluded on a review of the options available to achieve greater financial inclusion – including the introduction of basic bank accounts by 2012. The objective of the review, which was undertaken by the Social Finance Foundation on my behalf, is to identify recommended actions to achieve a substantial reduction in financial exclusion over a 3-5 year period.

The preparation of the review was overseen by a steering group chaired by my Department and comprised of key stakeholders. I understand a draft report, which sets out the recommendations from the review, is currently being finalised, and I intend to publish this for consultation purposes in due course.