Oireachtas Joint and Select Committees
Thursday, 20 April 2023
Public Accounts Committee
2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed)
9:30 am
Imelda Munster (Louth, Sinn Fein)
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Young people throughout the country are saving for deposits. They may have accumulated €10,000, €20,000 or €30,000 to buy a new home. They are being offered 0.1% interest and Mr. Makhlouf does not think that is something that he as a regulator could be bothered to raise with the banks. It would not concern him in the slightest that people are saving their deposits and they are being offered almost negative interest rates on their savings. He as a regulator would not see that as worthwhile even raising with them because he said he did not.