Pearse Doherty (Donegal, Sinn Fein)
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The Central Bank carried out an assessment of the fund industry either last year or the year before that. It quantified the size of the industry for the first time and its potential impact on stability in the State. Has the risk presented by the industry increased in the meantime and has the sector experienced growth since the assessment was carried out? Are there any serious risks? We are all familiar with the risks posed by excessive lending by banks. The shadow banking sector is massive in this country. We can talk about the perspective and times and so forth but what we are discussing here is a substantial chunk of the market. While the Central Bank's report did not identify any significant risks at the time, has anything changed or are the risks becoming greater or smaller?