Oireachtas Joint and Select Committees

Wednesday, 4 June 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Scrutiny of EU Legislative Proposals

3:55 pm

Mr. Aidan Carrigan:

We are discussing two different issues. I referred to where these money market funds are invested. In the broader context of the shadow banking sector, the economy in America looks to these alternative non-bank structures for its funding and growth, whereas Europe is more reliant on the banking sector. There is potential for growing these areas and providing more finance for the economy if we regulate them properly.

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