Bernard Durkan (Kildare North, Fine Gael)
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71. To ask the Minister for Finance the extent to which he and his Department continue to monitor the activities of banking institutions now withdrawn or in the course of withdrawal from this jurisdiction; the extent to which such institutions continue to have responsibility to Irish borrowers in their absence; and if he will make a statement on the matter. [8816/14]

Michael Noonan (Limerick City, Fine Gael)
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The withdrawal of banking institutions from the Irish market must be considered against a backdrop of a comprehensive programme of bank recapitalisation and restructuring that has been underway to change the future banking landscape in Ireland and abroad. While it is disappointing that ACC and Danske Bank have taken this decision, it is noted that one of the key features of banking strategy in the financial crisis has been the retrenchment to national borders.

ACC Bank is a subsidiary of the Rabobank Group based in the Netherlands which has taken the commercial decision, as a private enterprise, to return ACC's banking licence to the Central Bank.  The Central Bank does not envisage that this will occur until the second half of 2014.

The Central Bank has informed me that, since Danske Bank's original announcement of its commercial decision to withdraw existing day to day personal customer products and services on a phased basis during the first half of 2014, and also to discontinue the provision of personal and business banking products to new customers, the Central Bank has been in communication with Danske Bank. Under the Central Bank's Consumer Protection Code, banks are required to give a minimum of 2 months' notice before they close a consumer's account. It is important that consumers are given adequate notice to allow them to take the required steps to close or transfer their accounts. Danske has confirmed that it provided this required notice in December last for those accounts closing in February and also that it issued reminder letters.

I wish to highlight that all banks providing current accounts in Ireland are subject to the Central Bank's Current Account Switching Code, which is designed to make the process of switching current accounts easier and quicker and to offer protection and support for consumers when switching bank account.  The Switching Code places obligations and time limits on both the old and the new bank when completing the switching process.  Where accounts include credit facilities, such credit facilities will be subject to the credit assessment process applicable at the receiving bank.

Customers with any concerns or questions about their accounts are advised to contact Danske Bank on telephone 1890 866 866 for Personal Banking and 1890 866 860 for Business Banking.  Other information is available on Danske Bank's website .  If customers have made a complaint to Danske Bank and are not satisfied with the outcome, they have the right to refer the complaint to the Financial Services Ombudsman.