Caoimhghín Ó Caoláin (Cavan-Monaghan, Sinn Fein)
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Question 82: To ask the Minister for Finance if he will provide details of the persons appointed to the consumer advisory group of the Central Bank of Ireland as provided for under the Central Bank Reform Act 2010; the number of times the group has met since its appointment; the issues discussed by the group to date; and if he will make a statement on the matter. [13787/11]

Caoimhghín Ó Caoláin (Cavan-Monaghan, Sinn Fein)
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Question 83: To ask the Minister for Finance if the revised consumer protection code for the financial services sector will be published and implemented by the Central Bank in June 2011 as committed to in 2010 in its document Banking Supervision a New Approach; and if he will make a statement on the matter. [13788/11]

Caoimhghín Ó Caoláin (Cavan-Monaghan, Sinn Fein)
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Question 84: To ask the Minister for Finance if the statutory switching code for bank current accounts will be published and implemented by the Central Bank in June 2011 as committed to in 2010 in its document Banking Supervision a New Approach; and if he will make a statement on the matter. [13789/11]

Caoimhghín Ó Caoláin (Cavan-Monaghan, Sinn Fein)
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Question 85: To ask the Minister for Finance if the discussion paper on a central credit register will be published by the Central Bank in quarter two 2011 as committed to in 2010 in its document Banking Supervision a New Approach; and if he will make a statement on the matter. [13790/11]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 82 to 85, inclusive, together.

As Minister for Finance, I have no direct role in the day-to-day operations of the Central Bank. I have been informed by the Central Bank that on 2 February 2011, the Bank announced appointments to the Consumer Advisory Group (CAG). The members of the CAG are Mr. Michael Culloty, Mr. Dermott Jewell, Ms Elaine Kempson, Mr. Bill Knight and Dr. Anthony Walsh. The CAG has met twice since its formation and the Bank expects that the group will hold some five or six meetings per annum. As part of its remit, the CAG will advise the Bank in relation to the effects of the Bank's strategic plans on consumers of financial services as well as providing input into policy developments such as the revision of the Consumer Protection Code. The workings of the CAG require confidentiality be observed in relation to their advice.

I have been informed by the Bank that submissions in relation to Consultation Paper 47 (Review of the Consumer Protection Code) were received by the Bank in January this year. Following detailed analysis and consideration of the submissions, the Bank decided to undertake a second short consultation in relation to its review. The Bank expects to publish the second consultation paper, which will outline the position it has reached on the questions posed in the first consultation paper, at the end of June 2011. The second consultation will also highlight additional and emerging issues which have come to attention as the Bank has considered responses to the first consultation, but also as a result of its ongoing regulatory work and on which the Bank believes further protections are required for consumers. The Bank plans to publish a revised Consumer Protection Code towards the end of the third quarter of 2011.

I have also been informed by the Bank that the Code of Conduct on the Switching of Current Accounts with Credit Institutions (the Switching Code) came into effect on 1 October 2010. This Code is issued under section 117 of the Central Bank Act 1989. The Bank has the power to administer sanctions for a contravention of this code under Part IIIC of the Central Bank Act 1942. Credit institutions are required to comply with this code as a matter of law. As part of the consultation on the revised Consumer Protection Code, the Bank invited comments and views on the statutory Switching Code. The Bank will consider these responses relating to the Switching Code at a later date.

Finally, I have been informed by the Bank that it will publish an update to its banking strategy paper in the next month. This will provide further information on the status of establishing a central credit register. This is consistent with the commitment in the memorandum of understanding with the EU/IMF to provide a plan for enhancing the quality and availability of credit information available to credit providers by the end of September.