Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

Thank you, Senator. I just want to round off one issue there that Senator Barrett was dealing with you. That was when you were discussing the whole IFSRA regulatory ... regulation model and so forth. One of the issues that this inquiry looked at, Minister Noonan, was what powers were available to the regulator and what powers were available to the Central Bank at the time of the growing crisis and whether those powers were used or not, or whether there were recommendations with regard to further legislative change that would be required to enable the type of powers that may not have been available to deal with a growing crisis. So, in that regard, could I ask how closely do you monitor the use of the powers that the Central Bank now has and the subsequently regulation structure that has been brought in under it? And do you query any apparent lack of use of same?