It has emerged that media organisations could be called before the Oireachtas banking inquiry.

The decision means that senior editors and board members of newspapers could be called to give evidence over their role in property and the boom.

The inquiry has agreed its terms of reference that will now have to be cleared by lawyers.

They will then go to the two Committees on Proceedures and Privilege and be voted on in the Dáil and Seanad.

It means the inquiry is likely to formerly get underway by the end of October.

Committee chairman Ciaran Lynch is confident the inquiry can conclude its work before the next election.