Peadar Tóibín (Meath West, Sinn Fein)
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Question 64: To ask the Minister for Finance the action he has taken to establish a strategic investment bank to finance large capital projects and which will act as a lender to small and medium enterprises. [21166/11]

Ciara Conway (Waterford, Labour)
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Question 97: To ask the Minister for Finance the position regarding the establishment of a strategic investment bank as promised in the programme for Government; the work that has been done on this project to date; the way this project is progressing; when same will be up and running; the checks and balances that will be put in place to make sure the bank operates to the highest standards in fiscal policy and public accountability; the level of risk to the taxpayer and the economy associated with this project; and if he will make a statement on the matter. [22233/11]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 64 and 97 together.

As I said in a reply to a question from Deputy Flanagan on 21 June and Deputy McGuinness on 5 July, 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 assessment will include the bank's relationship with the two pillar banks and the timeline for its establishment.

The Deputies may wish to reflect on the usefulness of repeated questions on this topic in such a short period of time and when the prerequisites for change have not been completed.