Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Vacancy rates in the Central Bank were mentioned. The Minister for Finance provided information on this issue in reply to a parliamentary question I tabled during the week. In the section of the Cental Bank that deals with regulating credit institutions, the staff vacancy rate stands at 12%. The vacancy rate in the area of insurance supervision is 9%, while the vacancy rate in the area of consumer protection is 10%. The number of staff vacancies across the Central Bank stands at 149. Clearly, the bank is experiencing a major problem attracting and retaining key staff across its functions.

What impact is the situation having on the Central Bank's ability to perform its functions? What is the rationale? Is it remuneration and terms of conditions? What is the problem?