The government's agreed to set up the Oireachtas banking inquiry immediately.

It's hoped that TDs and Senators will be asked to ratify the proposals by next Tuesday - with the inquiry to be set up immediately afterwards.

A new committee, comprised of both TDs and Senators, will be set up to hold in the inquiry.

However the chairman of the Oireachtas finance committee, Labour's Ciaran Lynch, will also chair the new inquiry.

This afternoon Deputy Lynch wouldn't be drawn on what individuals might appear before his inquiry - but said he didn't he would need to compel anyone to attend: