Maureen O'Sullivan (Dublin Central, Independent)
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Question 98: To ask the Minister for the Environment, Community and Local Government if he will confirm, if the veil, or rather the stone wall of secrecy that pertains to Central Bank of Ireland Dormant Accounts Inspection Reports, in contrast, say, to the regime that obtains in relation to Central Bank of Ireland themed reviews and inspections, remains equally impermeable whether the consulting inspectors, in this case Price Water House Coopers, return findings of probity or findings of untoward accounting; and if he will make a statement on the matter. [30015/12]

Phil Hogan (Carlow-Kilkenny, Fine Gael)
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I am advised that the Central Bank is bound by strict confidentiality requirements under Section 33AK (1) (b) (i) of the Central Bank Act 1942, as amended, regarding disclosure of supervisory information relating to financial institutions. The Central Bank has developed a framework for reviewing, assessing and mitigating risks which have emerged in various industry sectors and across individual financial institutions. The overall themes or findings which emerge are published on the Central Bank's website; however, specific issues relating to individual institutions are not published. Dormant Account inspections do not fall under the category of themed reviews and inspections, and are a responsibility delegated to the Central Bank under Section 22 of the Dormant Accounts Act, 2001.

Where, following an inspection under the Dormant Accounts Act, there is reason to believe that an institution is in breach of any provision of the Act or there is a material defect in the systems, procedures and processes to check on the identification, notification, transfer, recording and repayment of moneys in dormant accounts, the inspector is required to prepare a report, in writing, and submit a copy of the report to the Minister. I have no indication that such is the case in respect of the reports undertaken by PriceWaterhouseCoopers.