Rabobank Dublin’s website has the tagline “your financial link in the food chain”, highlighting its 80 dedicated food and agri researchers “from farm to fork”.

The Dutch bank has certainly stuck a fork in 1,800 Irish farm families whose loans it has sold off. It marks the final exit of the ACC from dealing with farmers, over 90 years after it was developed by the fledging Irish state to do just that.

The IFA wants it to do just that where the farmer was engaged and was working towards a restructuring that would fully resolve the debt over time

Farmers may ask why the 1,000 odd-performing loans were not bought by Irish banks. It would improve their loan book as effectively as selling loans to vulture funds, as AIB did last week.

AIB can reverse the sale of these loans until June.

The IFA wants it to do just that where the farmer was engaged and was working towards a restructuring that would fully resolve the debt over time.

Hypocrisy

If it fails to do so, the IFA will highlight what it calls the hypocrisy of AIB’s “backing brave” marketing campaign.

An AIB branch in every county can expect a visit. Most strikingly, the IFA says that it will cease banking with AIB.

All this makes for an interesting atmosphere at the inital meetings of the Irish Banking Culture Board (IBCB), which was launched on Monday. Its aim is to restore public confidence in Irish banks.

Both Minister of State Michael D’Arcy and the Central Bank’s Derville Rowland warned the banks to seize this opportunity to regain public trust

AIB, Bank of Ireland, Ulster Bank, KBC Bank and Permanent TSB are founder members, and AIB’s Robert Mulhall will sit alongside Martin Stapleton, who proposed the IFA’s hard line with AIB, on the 14-strong board.

Both Minister of State Michael D’Arcy and the Central Bank’s Derville Rowland warned the banks to seize this opportunity to regain public trust.

“This is, in my opinion, your last chance,” D’Arcy said in a stark warning – literally, as he used a Game of Thrones metaphor to drive home his point. “The banks should all aspire to be Starks, not Lannisters,” he said.