Banking inquiry agrees terms of reference

The Oireachtas banking inquiry has agreed the terms of reference for its investigation into the banking crisis.

The proposal is to be sent to both the Seanad and Dáil committees on Procedure and Privileges by the end of the week.

The committee discussed 51 amendments to the advisory group's proposal on how the probe should be conducted but there were no substantive changes agreed.

A number of amendments were agreed including that the inquiry examine the role of the media in the crisis.

After both committees on Procedure and Privileges examine the bank inquiry's proposal, it is due to be discussed and voted on in both chambers in mid-October.

The banking inquiry should begin at the end of October and the first public hearings on the context to the crisis will take place in December.

The role of the media would be included in this phase.

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