Oireachtas Joint and Select Committees

Thursday, 11 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Brian Patterson:

It was written into the Central Bank and Financial Services Authority of Ireland Act, all right? So CBFSAI, that horrible acronym, had it as a legal responsibility, and the Financial Regulator, even though it had its own Act, operated under the aegis of the overall umbrella of CBFSAI. And I think that was the main reason why it was believed that the Financial Regulator also had that responsibility.

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