Oireachtas Joint and Select Committees

Thursday, 28 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Marc MacSharryMarc MacSharry (Fianna Fail) | Oireachtas source

And earlier you were saying to, I think my colleague Deputy McGrath, that in the context of enforcement, that you monitored breaches, and if I'm quoting you correctly, of the codified arrangements on sectoral breaches but due to work pressures and other priorities such as Basel II, sanctions on prudential matters were less pressing. And that this style of regulation is what the authority adopted; so, you were saying that because of resources, that this limited the potential, perhaps, to enforce these matters. Who decided that, I mean, was there a proposal at the authority that, "Look, we're going to prioritise" or?

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