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

How is the level of fines determined? The public will be cheering the Central Bank on and may give the witnesses the freedom of the city if they take out the bata mór when they are levelling fines on banks following the enforcement action. How does the Central Bank determine the appropriate level of fine to be levied on an institution when some are recording profits of €1 billion and will not have to pay tax on profits for approximately 20 years because of changes in the law? How does the Central Bank determine an appropriate fine for the amount of payments-----

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