The Central Bank of Ireland has named the 13 members of a high powered inquiry panel to investigate allegedly rogue banks and bankers.

The list includes two retired judges, lawyers who have worked on state investigations into child abuse, a retired financial regulator from Jersey and a banker formerly based in Hong Kong.

The first case expected to be reviewed by the inquiry is Irish Nationwide, whose collapse cost taxpayers €5.4 billion. The Inquiry has the power to fine regulated corporations up to €10 million or 10 per cent of turnover.

It can fine individuals up to €1 million provided this will not bankrupt them. It can also disqualify them from working in a regulated financial services entity among other sanctions.

Membership of the Inquiry panel is unpaid, but members who are selected to sit on an active inquiry will be paid a daily rate. The Central Bank published the names of the panel on its website today.

Judge Clare Leonard, who retired from the District Court after 21 years in 2013, and Mr Justice Daniel O'Keeffe, a retired High Court judge who became chairman of the Standards in Public Office Commission in February 2014, are both on the panel.

Ita Mangan, a veteran barrister who was a member of the three person Commission into the archdiocese of Dublin and the diocese of Cloyne conducted under the Commissions of Investigation Act 2004, and Marian Shanley, who worked as a solicitor and administrator to the Ferns Inquiry, are both on the panel.

Paul McDonald, a solicitor who has worked on various state Inquiries and tribunals, has also been named as has James Bridgeman, a barrister in England, Wales and Ireland.

The list also includes Irish American John Cashin, a retired general counsel with Zurich Insurance Group in Switzerland, who also served as Deputy Commissioner of Insurance for the state of New York.

Nigel Woodroffe who retired in early 2014 from his role as Chief Financial Officer at the Jersey Financial Services Commission and Victor Chisese, a barrister based in London, are also on the panel.

The panel includes former banker Geoffrey McEnery, retired former CEO of Lloyds TSB Asia, who was based in Hong Kong.

Two current Central Bank staff are on the panel: Mairead Devine is the head of Risk Governance and Policy and Martin Moloney is head of the Markets Policy Division. Fiona Muldoon, the Central Bank's former Director of Credit Institutions and Insurance Supervision, is the final member of the panel.