Oireachtas Joint and Select Committees

Thursday, 19 October 2017

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

Engagement with the Central Bank of Ireland

9:30 am

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

There have been numerous instances. There was one case that we had before the committee where a €1.2 million order was made against ACC Bank. What is the interaction between that order and regulatory action by the Central Bank? How is that court order discovered? Does the Central Bank have someone in the courts? How does the Central Bank find out whether a bank that it regulates has broken the law in this State? What action does the Central Bank, as the regulator, take in such instances? I know the case I referred to is before the Governor's time but I just cited it as an example.

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