Dáil debates

Tuesday, 1 December 2009

12:00 pm

Photo of Brian CowenBrian Cowen (Laois-Offaly, Fianna Fail)

The financial regulation legislation is being incorporated in the context of the Central Bank reforms that will take place. The need to review fundamentally our whole financial regulatory structure arose in the aftermath of the financial crisis, which began to emerge in autumn 2008 and came to a very serious turn this autumn. It is important to recognise - and I am sure the Deputy does - that the legislation concerning reform of the Central Bank is now a priority that is being attended to in the Department of Finance in the aftermath of the successful enactment of the NAMA legislation. This is another enormous body of work that has to be undertaken in the interim, at a time when other projects were being mentioned. I do not have the information regarding the group referred by the Deputy in the first part of his supplementary question but I can get it for him.

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