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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Rose Conway Walsh: Has there been formal engagement with accompanying records? Albeit, the Central Bank may take the view that it cannot publish those records or that they are not available.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Rose Conway Walsh: There are documents on the matter. Is that correct? In the letter I have before me a Central Bank representative states that while the Central Bank does not have statutory remit to investigate individual complaints of customers relating to financial services, it accepts information from consumers of financial services in the context of ongoing Central Bank supervisory activity. In this...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Rose Conway Walsh: Central Bank officials would be prepared to meet them. I welcome that. Reference was made to standard variable rate legislation. The Central Bank officials made only limited comments about the issue of the high standard variable rates in this State. Is it still the position of the Central Bank that it does not want the power to set a cap?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Rose Conway Walsh: Professor Lane referred to competition and how completion is an alternative. How many applicants for new mortgage lending banks has the Central Bank received in the past year? How many are in the process of being approved?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Rose Conway Walsh: Is the Central Bank comfortable with Bank of Ireland strongly encouraging people to move to fixed-rate mortgages? Are we actually seeing a narrowing of options in a way that suits the bank rather than consumers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Rose Conway Walsh: Accordingly, the Central Bank has no problem with banks offering fixed-rate mortgages several points above the European Central Bank rate.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Rose Conway Walsh: We are not seeing that competition. The Dáil has passed a Bill on Second Stage that would empower the Central Bank to intervene if insurers are in breach of certain criteria in certain areas in terms of flood insurance. Would the Central Bank use such a power?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Rose Conway Walsh: Who has the contract for the independent appeals process? Is that being given to a company?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Rose Conway Walsh: Have they been appointed?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Rose Conway Walsh: Who are the ones that have already been appointed?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Rose Conway Walsh: What I am trying to get at is whether they are the same organisations that were responsible for doing the original audits in the banks before 2008.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Rose Conway Walsh: So they would not be the same auditors. The final sentence of the Central Bank's submission states that the further development of European banking union has great potential to deliver a fundamentally more stable banking system over the medium term. Given the short-term external shock that is about to happen with the Italian banking crisis, does Professor Lane believe our banking system is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Rose Conway Walsh: I understand that. Is Professor Lane satisfied that the banking system in Ireland is sufficiently stable to withstand an external shock that might come about-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Rose Conway Walsh: There are no direct connections between the Italian banks and Irish banks?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Rose Conway Walsh: I should hope it is not like the mid-2000s or we are all in trouble.

Seanad: Order of Business (15 Dec 2016)

Rose Conway Walsh: One of the most-----

Seanad: Order of Business (15 Dec 2016)

Rose Conway Walsh: They are never there when we need them, are they?

Seanad: Order of Business (15 Dec 2016)

Rose Conway Walsh: It would not be like the Fianna Fáil-----

Seanad: Order of Business (15 Dec 2016)

Rose Conway Walsh: I thank the Cathaoirleach. I feel very important.

Seanad: Order of Business (15 Dec 2016)

Rose Conway Walsh: Are you? Good. I am very happy for you. One of the most important Bills to be produced since the election was initiated here in the Seanad. It represented a great opportunity to show how a considered, thoughtful debate in this House could lead to better legislation, in this case to tackle one of the biggest problems facing our people. The Planning and Development (Housing) and...

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