Tony Killeen (Clare, Fianna Fail)

As Members are aware, this issue was discussed on Committee Stage and, as requested, the Minister for Finance speaking note on the issue was sent to the clerk of the committee for circulation to Members. As the Minister for Finance stated on Committee Stage, there are good reasons behind the exclusion of the Central Bank from the Freedom of Information Acts given the sensitivity of the information it holds, its independent role under European statutes and the very restrictive information constraints that go with this. There is also the risk of an inadvertent disclosure of sensitive information.

However, as the Minister also indicated on Committee Stage, he is prepared to consider whether the level of information made available by the Central Bank could be improved within the legal and other constraints that apply. The Minister for Finance will reflect further on this issue with a view to examining it again as part of a second Bill on financial regulatory reform to be published in the autumn. In those circumstances I do not propose to accept amendments Nos. 4 and 11 at this point.

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