Ciarán Lynch (Cork South Central, Labour)
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I am not sure whether this meeting is being broadcast live. Just as space is the final frontier in "Star Trek", shadow banking seems to be the final frontier in finance. While concepts such as bonds, subordinated bond holders and contracts for difference have entered common financial parlance in Ireland in recent years, the matter of shadow banking is probably very much unknown to the public. Will Mr. Carrigan give us an example of it, perhaps in an Irish context? Will he outline the position of the financial services businesses in the Irish shadow banking market? Does Ireland have a significant role? Do we have shadow banking organisations here? How is business affected by shadow banking? What is the difference between going to a high street bank to obtain a loan to start a business and becoming involved in the CNAV fund processes or alternative processes?