The Oireachtas banking inquiry will write to former Taoiseach Brian Cowen this week, to invite him to reply to evidence that Central Bank Governor Patrick Honohan presented last Thursday which seems to contradict public comments that Mr Cowan had made regarding the night of the banking guarantee.

As part of his submission Mr Honohan said that the late Minister for Finance, Brian Lenihan wanted to nationalise Anglo Irish Bank and Irish Nationwide Building Society instead of including the institutions in the banking guarantee. He also added that Mr Lenihan argued that subordinated or junior bank debt should not have been covered by the banking guarantee.

The Central Bank Governor says that Mr Lenihan was "overruled" on both of these issues by a more senior politician.

When he was asked who had overruled the then Minister for Finance on the night of the bailout, Professor Honohan replied: "We are not meant to talk about individuals but we know who was there. He was not the senior politician".

The Taoiseach, Brian Cowen - and former Attorney General, Paul Gallagher were the other two politicians who were present. Given that the Attorney General's role is to advise the Cabinet - it seems that Honohan is referring to Mr Cowen.

Patrick Honohan also said that he believes that the Central Bank and the Financial Regulator took a backseat on the night of the bailout - and that the "drive and energy," came from Department of Finance officials.

In October 2008 Mr Cowen discussed the bailout in the Dáil, saying: "The advise in respect to all these matters and in respect of all policy decisions was taken from the appropriate bodies, namely, the Central Bank and the Financial regulator."

Brian Cowen will make a full contribution to the banking inquiry towards the end of spring, or during the summer - but the inquiry will write to Mr. Cowen, and invited to reply to Mr Honohan's contribution. Mr Cowen may choose to either offer an immediate response - or to wait until he appears before the inquiry.

The banking inquiry will write to all individuals who are mentioned in public sessions, to provide them with an opportunity to reply. Paul Gallagher will also be contacted and invited to respond to Professor Honohan's evidence.