Willie O'Dea (Limerick City, Fianna Fail)
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Question 58: To ask the Minister for Finance if he has had any consultations with the European Commission and the European Central Bank on the proposed establishment of a strategic investment bank and if they have given their views on the matter. [18569/11]

Peadar Tóibín (Meath West, Sinn Fein)
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Question 158: To ask the Minister for Finance if he is actively considering the creation of a strategic investment bank with a capital allocation of €2 billion for the purpose of creating jobs. [14727/11]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 58 and 158 together.

As I said in a reply to a question from Deputy Flanagan on 21 June, ensuring that a strategic investment bank is operating in the domestic banking market, providing finance to large capital projects and acting as a conduit for venture capital as well as a lender to SMEs, is an objective in the programme for Government.

A comprehensive programme of bank recapitalisation and restructuring is currently underway following my statement on the future banking landscape in Ireland at the end of March last. The essential detailed assessment and planning work to meet this objective will be accelerated once the Government's key immediate objectives for the repair of the banking system have been completed. This phase of the Government's consideration of the issue will, as is the case in relation to all bank issues, be carried out in close consultation with our international partners including the European Commission and the European Central Bank.