Oireachtas Joint and Select Committees

Thursday, 21 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. John Hurley:

No, I think ... I think financial ... We were divested of responsibility for financial regulation, but if major issues arose and they were brought to attention, yes, they would be ... Central Bank would have to be involved and look at those, but, in general, the Central Bank's responsibility was a responsibility to contribute to financial stability and, like other central banks, the way that functioned was through the financial stability reports but it didn't have a responsibility for financial regulation.

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