Howlin: Banking inquiry 'imminent' now Anglo case is over

The Public Expenditure Minister says the Banking Inquiry is now "imminent".

It comes after former Anglo directors Willie McAteer and Pat Whelan learned yesterday that they are unlikely to face jail for issuing illegal loans to the "Maple Ten" customers to buy shares in the bank.

Willie McAteer and Pat Whelan have been remanded on bail until July 31 when probation reports will determine if they are suitable for community service.

Brendan Howlin said he takes "strong note" of Judge Martin Nolan's comments yesterday, where he criticised then-Financial Regulator Patrick Neary for failing to give explicit warnings about the Maple Ten transaction.

"Somebody who has sat through every line of evidence, every word of evidence given over a protracted period - has to be taken note of."

Minister Howlin said those comments will be taken on board, and the Oireachtas inquiry into the Irish banking sector is now imminent.

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