A decision on whether or not the Public Accounts Committee (PAC) can hold an inquiry into the events that led to the introduction of the bank guarantee in September 2008 is expected by the end of this month.
A subcommittee of the PAC, which is examining the legal and procedural questions involved in setting up an inquiry, is due to report back to the full committee in two weeks.
PAC chairman, John McGuinness, said today there was a public demand for a full inquiry into the decisions that were taken in the lead up to the introduction of the guarantee.
He said people needed to hear publicly from those centrally involved in the guarantee and other matters which have led to the current financial crisis.
PAC vice chairman, Kieran O'Donnell, also expressed the hope that an inquiry could be held but and he said the subcommittee was making a thorough analysis of what could be done.
"The key thing is that this issue is considered in a structured and comprehensive way. When the sub committee has completed its work the issue will be considered by the full PAC," he said.
The PAC is planning to meet in private session this week during which members will be brought up to date on the progress made by the sub committee.
