Oireachtas Joint and Select Committees

Tuesday, 4 April 2017

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

Banking Sector: Quarterly Engagement with Central Bank of Ireland

10:00 am

Mr. Bernard Sheridan:

There are various elements to that. We have set out the framework within which the examination must be conducted by the lenders in the various phases and how they have to approach that in terms of internal governance and the controls they need to put in place. We have also published principles as to how redress and compensation is to be approached and what our expectations are. We have provided other clarification documents which we have published along with the recent update.