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 responses. Before I move to my second substantive point, can he tell me, in the context of growth, if there are entities from certain jurisdictions whereby it is recognisable that there is a particular emphasis? That feeds into my wider question, which is not necessarily Brexit-related but which relates, rather, to resilience and banking provision in the State as much for the consumer as for employees. I know there are specific cases Mr. Sibley will not go into and I do not expect him to do so. However, I would welcome the general opinion of the Central Bank on how well the banking system in this State is currently operated and serviced for consumers in terms of it being a viable market for other markets. Is there any concern that, perhaps, it is over-dominated by certain institutions or, more worryingly, that certain entities looking at the model in Ireland are concerned that it could force them to make decisions in the coming 12 months or so which would have major consequences? If so, what role is the Central Bank playing in that regard?

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