Michael McGrath (Cork South Central, Fianna Fail)
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67. To ask the Minister for Finance if he will provide details of the separate investigations currently under way or suspended at the Central Bank of Ireland into various issues arising from the banking crisis which crystalised in 2008; and if he will make a statement on the matter. [32187/14]

Michael Noonan (Limerick City, Fine Gael)
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Neither I nor my Department have any role in on-going Garda or other regulatory investigations into any Irish bank. However, I have been advised by the Central Bank that there are two such investigations in relation to issues arising from the banking crisis, of which one investigation is currently underway and one investigation is suspended.

In relation to the Irish Bank Resolution Corporation (IBRC) (formerly Anglo), I have been informed by the Central Bank that the investigation is currently suspended. The Gardaí informed the Central Bank in May 2011, following consultation with the Director of Public Prosecutions, that to proceed with the Central Bank's examinations at that time may prejudice any future criminal prosecutions. Accordingly, the Central Bank decided to defer its examination into IBRC. Given the seriousness and sensitivity of criminal proceedings and the strength of the sanctions available to the Gardaí and the Office of the Director of Corporate Enforcement (ODCE), the Central Bank considered this to be the most appropriate approach to take where there is a reasonable possibility of multiple proceedings. The Central Bank has informed me that it continues to keep this decision under review and regular liaison with the Gardaí and ODCE is continuing.

In relation to the Irish Nationwide Building Society (INBS), I have been informed by the Central Bank that the investigation is currently ongoing. An investigation is being conducted under the Central Bank's Administrative Sanctions Procedure into historic lending practices at INBS. Until this has concluded, no decisions may be made as regards any future potential action. For legal reasons, including the Central Bank's confidentiality obligations pursuant to section 33AK of the Central Bank Act 1942, no further details can presently be disclosed.