Oireachtas Joint and Select Committees

Tuesday, 4 April 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking Sector: Quarterly Engagement with Central Bank of Ireland

10:00 am

Mr. Bernard Sheridan:

The framework sets out how they are to approach the examination while the principles set out the Central Bank's expectations in terms of redress and compensation. Each of the schemes are being designed by the individual lenders. They then have to come to us where we challenge them on their approach. Ultimately, the payment and decisions regarding the payment are matters for the board of each institutions.

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