Oireachtas Joint and Select Committees

Thursday, 18 April 2019

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

Matters Relating to the Banking Sector: Central Bank of Ireland

Ms Mary-Elizabeth McMunn:

We have sought additional resources in those areas. The Deputy also mentioned Barclays and Bank of America. They are supervised as significant institutions, and we are part of that ECB supervision as members of the Single Supervisory Mechanism, SSM. Those banks are jointly supervised by teams that are on the ground in Dublin and by colleagues in Frankfurt. As they are deemed to be significant institutions because of their size, we are not on our own in supervising them.

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