D&O Update – Inquiries Into The Irish Banking Crisis

The Oireachtas (Irish Houses of Parliament) Joint Committee of Inquiry into the Banking Crisis has published a proposed framework for the inquiry plan, the different phases of the inquiry and draft terms of reference. The purpose of the inquiry is to inquire into the reasons why Ireland experienced a systemic banking crisis, including the political, economic, social, cultural, financial and behavioural factors and policies which impacted on, or contributed to, the crisis.  The Committee will do this by investigating relevant matters relating to banking systems and practices, regulatory and supervisory systems and practices, crisis management systems and policy responses, and the preventative reforms implemented in the wake of the crisis.  The time period for investigation is from the beginning of 1992 (effective implementation date of Basel I) to the end of 2013.