The shape of the proposed banking inquiry has become clearer with a report today from a key group advising the committee that would run the investigation.

An advisory group tasked with preparing a roadmap for the inquiry has proposed three modules and a parallel process looking at the background to the banking collapse

The three proposed modules would look at banking systems: regulatory and supervisory systems, crisis management systems and policy response.

The accompanying module would study the context of the crash.

The report also recommends a timeline for the inquiry which sets out the three phases of initial investigation, public hearings, and reporting.

The advisory group has proposed that there could be three or four days of public hearings a week as part of the banking inquiry.

It also proposes that the public hearings could last for up to four months.

The committee hopes to have a detailed plan for the inquiry agreed when the Dáil and Seanad return.

Commenting on the report, chairman of the committee, Ciaran Lynch TD said: 

“While more detailed work remains to be done over the next phase of the group’s work, it is clear that the inquiry will have to adopt a targeted and strategic approach to written and oral evidence in order to fit a highly ambitious conceptual inquiry framework in the time available for the inquiry".