Oireachtas Joint and Select Committees
Thursday, 18 December 2014
Committee of Inquiry into the Banking Crisis
Context Phase
3:35 am
Mr. Rob Wright:
Yes. The Secretary General is on the board of the bank. There was an engagement with the regulator which was not as fulsome as it should have been, in part because of the resourcing issues. It is why we specifically recommend that the Department of Finance be legislatively obliged to report on the broadest possible macroeconomic risks, which include, perhaps, inappropriate policy and other fiscal risks. I know the Department has been working on a broader, risk-based assessment of issues. I agree that this was previously inadequate and we proposed some very specific things to strengthen it.
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