Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

It speaks volumes about what is being prioritised. The Central Bank liaises with the Minister about regulatory or legal changes which are needed. It would also be appropriate to inform the committee if the Central Bank believes there are areas which need strengthening.

On the topic of Brexit, Senator O'Donnell asked about the sanctioning of Barclays Bank and the Bank of America, which are now located here, one of which is up and running. How many applications for authorisation has the Central Bank received in total? I know two have been authorised but is there a pipeline of applications? I understand that, insofar as countries can lose or gain from Brexit, Ireland is losing out on financial services mainly to Paris for reasons to do with accommodation and whatnot.