In a version of a mini banking inquiry, AIB managing director Colm Doherty, and the directors and partners of Davy Stockbrokers and Bloxham Stockbrokers, will be quizzed by an Oireachtas committee in the coming months.

Michael Moynihan, chair of the Economic Regulatory Affairs Committee, said that there was a general misapprehension that the looming official banking inquiry would scupper the work of Dáil committees that had already started investigating the banking industry.

He said that his own committee had done "valuable work" in the past year investigating the behaviour of banks and regulators during the boom years.

Moynihan said his committee plans to press ahead and further question AIB
following revelations made last spring by former chief auditor Eugene McErlean about hidden stockmarket deals AIB routed through the Isle of Man and the Caribbean a decade ago.

Moynihan said the committee also planned to probe the sale of some bonds Davy Stockbrokers sold to credit unions and, separately,
bonds Bloxham Stockbrokers sold to some individuals
during the boom years.

Defending the nature of the proposed banking inquiry, Moynihan said that a Dáil committee would have needed more powers through a constitutional referendum to complete a similar wide investigation into the banking bust as that proposed by Taoiseach Brian Cowen.