Oireachtas Joint and Select Committees

Wednesday, 27 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Ms Mary Burke:

My interpretation of that particular provision which is 33D, again, I mean it is an oddly phrased piece of legislation I have to admit but when something refers to guidelines, as to policies and principles that the authority is required to implement, I'd place the emphasis on the "required to implement", and my interpretation of that is, that in the context of financial stability, the Central Bank could effectively have required us to implement certain policies. I appreciate there are other interpretations of that, and different people have different opinions, but to the extent that there is a need to reconcile those different opinions I will have to leave that to the committee.

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