Banking Inquiry will not publish David Drumm's statement

The Banking Inquiry has agreed not to publish David Drumm's statement as originally planned tonight, after being told not to do so by the Director of Public Prosecutions.

The inquiry will return to the issue tomorrow morning when it will have further legal advice from its own legal team.

David Drumm's controversial written statement to the banking inquiry has resulted in a stand-off between the committee and the director of Public Prosecutions.

The inquiry had planned to publish the statement tonight after accepting it as evidence on foot of having to reject an offer from the former Anglo Irish Bank boss for him to appear via video link from the United States where he now lives.

This morning the DPP contacted the inquiry raising concerns at the planned publication of the statement.

In turn the inquiry sought clarity from the DPP and it was only tonight that came back.

The committee discussed the response in private session - it is understood it said that the statement should not be published.

The inquiry has now decided to seek further legal advice and a full briefing from its own legal team.

It will return to the issue in private session tomorrow morning when it will decide on its next course of action.