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

Professor Philip Lane:

They are pretty active in that regard. The IDA is super-energetic and active in trawling the world. The good news for us is that Ireland has a long track record and experience of how to handle foreign firms looking to locate here.

On the more narrow regulatory issues, there are ongoing exchanges and discussions to ensure European regulators can converge on a common understanding of what is required of firms looking to move business out of the UK into the EU. The more we can converge on a common understanding, the less influence any differences of interpretation will play. We have already publicly stated we have six applications from insurance companies. It is not that there is no interest. There is plenty of interest across all sectors.