The heads of AIB, Bank of Ireland, KBC, Ulster Bank and Permanent TSB are expected to agree to a freeze on loan repayments from customers who have been financially impacted by the spread of Covid-19.
It comes as they attend a meeting with Finance Minister Paschal Donohoe on how they can assist people financially impacted by coronavirus.
It is expected a suspension of mortgage and business loan repayments will be part of the agreement.
Banks are expected to agree to a three-month freeze on loan repayments for struggling businesses and mortgage holders, whose income has been reduced due to the outbreak.
Following the meeting, it is also expected to be confirmed that the €30 contactless limit will be increased to €50 to help people avoid cash.
However, this measure will take time to introduce and may not be in place until the end of the month.
Industry representative bodies estimate that up to 340,000 bar, restaurant and retail workers will have lost their jobs by the end of this week.
