Oireachtas Joint and Select Committees

Thursday, 15 January 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Photo of Sean BarrettSean Barrett (Independent) | Oireachtas source

Professor Honohan shows on page 64 that having lobbied so hard the Central Bank devoted remarkably few resources to this task, which it did not want to be carried out independently, as per the McDowell report. The Central Bank had two people for AIB and Irish Life, three for Bank of Ireland and Anglo Irish Bank and only 15 people in all. There are approximately 1,200 staff in the Central Bank but only 15 were doing this task which the Central Bank viewed as so vital. The organisation did not give enough priority to a task which it had lobbied to be allocated to it.

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