Oireachtas Joint and Select Committees

Tuesday, 27 February 2024

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

General Scheme of the Access to Cash Bill 2024: Discussion

Mr. John Palmer:

Yes, the designated institutions. To be a designated institution, the first condition is that the entity must be a bank or a credit union. In other words, these are the people who hold our money. The institutions concerned would then also have to exceed a prescribed percentage of the share of current accounts and of household deposits. There is a lower limit set in this regard. It cannot be below 5% in each case.