Financial Regulator to appear before Oireachtas Committee in January

The Financial Regulator is to appear before the Oireachtas Committee on Economic Regulatory Affairs in January, it was confirmed this afternoon.

Patrick Neary will face questions about his role in dealing with the banking crisis, and in particular his role in the directors' loans controversy at Anglo Irish Bank.

The Committee will query why the Financial Regulator failed to alert the Finance Minister to the fact that Anglo's former chairman Sean Fitzpatrick had avoided disclosing loans of €87m.

The Chair of the Committee Michael Moynihan said he would be looking for a comprehensive explanation of the events of the past week.

He said Mr Neary would also be asked to answer questions about the broader supervision of the banking system when he appears before the Committee on January 7.