Oireachtas Joint and Select Committees

Tuesday, 15 December 2020

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

Banking Issues in Ireland: Central Bank

Photo of Neale RichmondNeale Richmond (Dublin Rathdown, Fine Gael) | Oireachtas source

I thank Mr. Sibley for his presentation and, more importantly, his responses to the queries raised previously. There are two matters I would like to address separately, the first of which picks up on the issue we discussed at the previous meeting and Mr. Sibley's correspondence in regard to Brexit and its impact on the Irish financial system. Mr. Sibley referred to significant growth and mentioned that the issuing of banking licences or the reallocation of staff is not necessarily the best indicator in that regard. Is it possible to get a breakdown of the areas within banking or the business models in respect of which we are seeing that growth? For example, is it focused in one particular area or is it spread evenly? Which spreads are more important? Mr. Sibley also referred to the strategy to avoid empty-shell policy on the part of banks. Can he provide a little more detail on that? I will refer to the second matter following Mr. Sibley's responses to those questions.

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