Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

The Central Bank is attempting to convince the committee and the public that it is doing everything in its power. Maybe the expectations we have of the Central Bank are unrealistic but if it needs additional powers it would be pushing at an open door and we would provide them.

We would welcome any request to this committee in that regard.

I cannot understand this for the life of me. This was the biggest financial swindle in the history of the State to the value of €500 million. People have taken their own lives as a result of it and many others have contemplated it. There have been mental health breakdowns, marital breakdowns, health implications and all the stolen years from so many people. It is not just the account holders but their families and how the situation affected their extended family. After all of this is done and dusted, nobody will lose their job and nobody will go to prison. There is no accountability whatsoever. What we hear from the Central Bank is that letters were sent in 2010 and an examination was set up two years ago. There were only two on-site inspections although 15 institutions are involved. What the public would expect is that the Central Bank would be in there going through not just the assurance by the banks that they have identified the right tracker mortgage victims, but who was responsible. Is it correct that the only on-site inspections in terms of institutions are those that have already gone through enforcement proceedings?