Banking inquiry signs off on text of final report

The Oireachtas Banking Inquiry Committee has signed off on its final report following consideration of submissions from people and institutions named in it.

The inquiry members met at 9.30am on Thursday to review the responses of third parties to the draft report and issued a statement shortly after 3pm confirming that the report had been finalised.

Committee Chairman Ciaran Lynch said: “As required under legislation, a number of individuals and institutions were sent copies of the report and were entitled to respond to sections relating to them.

“We have now completed this part of the process of reviewing the responses and submissions received and have agreed and signed off on our final report.

He said the final report contained three volumes: the first containing the main report, the second recommendations for changes to the legislation for future running of inquiries and the third all the documentary evidence used for the report.

Former taoiseach Brian Cowen and ex- Anglo Irish Bank chief David Drumm were among those sent a copy of the draft report.

All individuals and institutions were given the draft report were entitled to respond to the sections concerning to them under legislation.

It is understood more than 30 responses were made from people and institutions by the deadline of December 28th.

They had been given two weeks to have their say on the parts of the report relating to them.

Under the Oireachtas (Inquiries, Privileges and Procedures) Act, the committee must now allow a 21-day standstill period before the final report can be brought before both Houses of the Oireachtas.