Seanad debates

Thursday, 27 March 2003

Central Bank and Financial Services Authority of Ireland Bill 2002: Second Stage.

 

I hope the new Central Bank will continue to issue its regular reports and that the proposed regularity authority will produce reports on a parallel basis. We have been very well served by the Central Bank. This new legislation will eliminate any ambiguity in regulatory interventions if untoward things happen in the financial sector. What we will have, as a result of this legislation, will be an integrated authority, where, hopefully, the right hand will know what the left hand is doing and where there will be a reasonable degree of co-ordination. The balance of advantage is to have one body, rather than two separate bodies. On that basis, I support the Bill.

Comments

No comments

Log in or join to post a public comment.