The Banking Inquiry has been told that pay deals increasing wages for public workers were not responsible for the collapse.

David Begg of the Irish Congress of Trade Unions (ICTU) says the social partnership process only made sure that regular people were able to share in the country's progress.

Mr Begg was giving evidence about his 15 years as a director of the Central Bank - a role he says he was not given training for.

But he also defended his campaign to ensure people were paid a fair wage for the work they did:

Meanwhile a leading property developer has said he would not make political donations any more - because they would be harmful to his image.

Sean Mulryan of Ballymore Properties says the amount he donated to political parties is 'ten or twenty times less' than the amount he gave to charity in the same period.

He has given evidence to the Banking Inquiry saying his company donated nearly €130,000 to parties between 2001 and 2008.

He says he cannot see himself, or anyone else, making donations like that in future:

The Banking Inquiry came back in session just hours after the Houses of the Oireachtas Service announced the appointment of Senior Counsel Senan Hogan to investigate whistleblower allegations.

The Terms of Reference of the investigation have been published this evening. You can read them here.

Under the terms of reference of his investigation, Mr Allen is required to consider the allegations made by the staff member in the context of the legislation underpinning the Banking Inquiry, as well as its Terms of Reference, the time limit on its work and any other relevant factors.

The inquiry will continue its work while the independent investigation is carried out.

The investigation will report by the end of August.