Oireachtas Joint and Select Committees
Thursday, 10 May 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Banking Sector: Quarterly Engagement with the Central Bank of Ireland
9:30 am
Professor Philip Lane:
It is but it is recent legislation. The first wave of engagement was the authorisation process. We have a gatekeeper function and only firms that are capable of meeting our regulations get through in that regard. The first wave, in 2015, 2016 and 2017, was to authorise them. Once the law was passed, they had to meet the requirements. Therefore, there is a lot of engagement.
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