Banking chiefs to be called before Oireachtas Finance Committee

Banking chiefs are to come before the Oireachtas Finance Committee to answer questions about how they plan to manage the Government's €400bn deposit guarantee.

President Mary McAleese signed the Credit Institutions Financial Support Bill into law earlier this afternoon.

The Chairman of the Oireachtas Finance Committee Fianna Fáil TD Michael Ahern said he wants banking chiefs to outline how the Government's €400bn deposit guarantee will affect customers.

Deputy Ahern said that bosses appeared before the Committee in July but the economic landscape has changed dramatically since then.

He wants them to meet with the Committee again to answer questions about whether or not bank charges will increase and if executive’s salaries will reflect the new economic realities.