Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

I thank the Minister and his officials for attending. Based on his opening remarks and the agenda for the ECOFIN Council, the February meeting, like the meeting in January, will be dominated by aspects of banking union and the EU semester process. I am most interested in how all of this affects Ireland and the issues that are of importance here. The SSM is due to become operational in November this year. Is there an agreed division of duties between the ECB and the Central Bank of Ireland, as an agent of the ECB, in the context of the day-to-day supervision and regulation of the banks that come under the SSM? Will this be formalised in a memorandum of understanding between the ECB and the Central Bank? How will it work? Will the changed role of the Central Bank have implications for its headcount?