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
John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source
I refer to a letter received by the committee - I believe it was brought to the attention of the Governor - from the Garda Commissioner's office, which dealt with queries raised during the hearing the committee had with Jonathan Sugarman. The letter from the Commissioner's office stated that liquidity ratios are set by the Central Bank in its role of economic governance. It continued that in 2012 and 2013, the Central Bank notified An Garda Síochána, in accordance with its statutory function, that it intended to deal with these breaches of liquidity ratios with the bank in question, Unicredit Bank Ireland plc, through administrative sanction procedures. What happened? What were those sanctions?
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