The chairman of the Banking Inquiry says members are prepared to put in long days and long weeks - if that's what's needed to issue a final report.

Members are set to interrupt the Christmas break to continue work on the report - including the possibility of extra sittings on St Stephens' Day and New Year's Day.

The inquiry held an emergency meeting on Saturday after its first draft report was lambasted as being too weak and full of contradictions.

Chairman Ciaran Lynch says extra sittings will be held if that's what it takes to finish the report in time:

However, while members are publicly optimistic about issuing a final report, it may prove difficult to do so.

Some members believe the law enabling Oireachtas inquiries is too limited - as it means a finding cannot be issued if a single witness has disagreed with it or given evidence to the contrary.

There is also the difficulty of writing a report that can satisfy at least a majority of the 11 members, and that fairly represents the evidence submitted by 133 oral witnesses and dozens of others who submitted oral statements.

Our political correspondent Gavan Reilly filed this report for Today FM's National Lunchtime News: