Michael McGrath (Cork South Central, Fianna Fail)
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130. To ask the Minister for Finance the total number of jobs lost in the domestic banking sector in the State since 2008; and if he will make a statement on the matter. [32480/14]

Michael Noonan (Limerick City, Fine Gael)
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Given the extent and nature of the financial crisis in Ireland it was inevitable that the banking sector would consolidate in order for the sector to better match the needs of the economy. Central Statistics Office figures show that there were 109,800 persons employed in the financial, insurance and real estate activities sector at end 2008. This figure droppped to 97,100 at end 2013 but rose to 97,800 in the first quarter of 2014.  Figures relating specifically to the domestic banking sector are not readily available.

It is important to highlight that the Irish financial market also offers opportunities to institutions. This Government has taken steps to ensure that the Irish financial market is accessible to any financial institution considering establishing in Ireland. In seeking to reduce the barriers to entry which are specific to the Irish banking market, Section 149 of the Consumer Credit Act, as amended, which provides for the regulation of bank fees and charges has been disapplied for the first three years in the case of new financial service providers setting up in Ireland.  This arrangement was provided for in the Central Bank (Supervision and Enforcement) Act 2013.