Oireachtas Joint and Select Committees
Wednesday, 3 November 2021
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021: Central Bank
Mr. Gerry Cross:
I understand. When the Central Bank regulation is drafted and consulted on, in respect of the role of CEO, for example, we will ask what the inherent responsibilities are in that role and what is expected of a CEO. That will include the overall responsibility for the management of the firm and for leading that firm. The answer to the Deputy's question is that in that case, yes, the CEO can certainly be responsible, and be held responsible and accountable, because there is a fitting together of the structure of the firm and an articulated responsibility at different levels of abstraction, if I can put it like that. Yes, they can be held responsible.
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