Oireachtas Joint and Select Committees

Tuesday, 9 March 2021

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

Central Bank of Ireland: Discussion

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

While I respect Ms Rowland's points, she must agree that this investigation has taken an exceptional length of time, considering how long the matter has been in the media. The Central Bank has repeatedly made the point, including today, that its powers to hold individuals to account require strengthening. However, the Central Bank already has certain powers to hold individuals to account, which have been touched on by Deputy O'Callaghan. They involve the imposition of a reprimand, a fine and a prohibition notice. If people are seeking extra powers and responsibilities, why have the existing powers not been exercised fully by this point?

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