John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

The next item is further scrutiny of the EU legislative proposals COM (2018) 134, subsidiarity deadline, 5 June regarding minimum loss coverage for non-performing exposures and COM (2018) 135, 11 June, on regulation of credit services, credit purchases and the recovery of collateral (resumed). Today, we are joined by officials from the Department of Finance and representatives from the Central Bank of Ireland. The committee agreed last week that the proposals related to non-performing exposures, including proposing a common definition for non-performing loans and the regulation of credit services, are significant and require further scrutiny. I welcome Ms Gráinne McEvoy and Mr. Adrian Varley from the Central Bank of Ireland and Mr. Gary Tobin, Mr. Brian Corr and Mr. Brian Fee from the Department of Finance.

I wish to advise the witnesses that by virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of their evidence to the committee. However, if they are directed by the committee to cease giving evidence on a particular matter and they continue to so do, they are entitled thereafter only to a qualified privilege in respect of their evidence. They are directed that only evidence connected with the subject matter of these proceedings is to be given and they are asked to respect the parliamentary practice to the effect that, where possible, they should not criticise or make charges against any person, persons or entity by name or in such a way as to make him, her or it identifiable.

Members are reminded of the long-standing parliamentary practice to the effect that they should not comment on, criticise or make charges against a person outside the House or an official either by name or in such a way as to make him or her identifiable.

I invite Ms Gráinne McEvoy to make her opening remarks.