Oireachtas Joint and Select Committees

Thursday, 21 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. John Hurley:

No, because the function to ... the functions were transferred to the Financial Regulator and the decisions in terms of the methodology and means and approach would be taken by the Financial Regulator and its board. And that was consistent with the overall approach at the time to regulation adopted in the Government's White Paper, for example. So I think the approach was determined by the regulator itself on the basis of principles-based supervision.

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