Seanad debates

Wednesday, 9 April 2003

Central Bank and Financial Services Authority of Ireland Bill 2002: Report and Final Stages.

 

In regard to the other financial institutions, the ultimate safeguard is the ministerial sanction that is required for their regulation. I accept Senator McDowell's point that it can be tempting for a regulator to fund to excess. It is the vigilance of the Minister for Finance that must act as a deterrent if this problem develops.

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