Gerry Adams (Louth, Sinn Fein)
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193. To ask the Minister for Finance when he expects to finalise his consideration of the merits of local public banks. [38436/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy is aware, the Programme for Government commits the Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs (DAHRRGA) and the Department of Finance to investigate the German Sparkassen model for the development of local public banks that operate within well-defined regions. Responsibility for this commitment has now moved from the DAHRRGA to the Department of Rural and Community Development. 

A project team with officials from both departments was assembled in early 2017 to investigate the Sparkassen model and other models of local public banking and bring forward a report to both the Minister for Rural and Community Development, Michael Ring T.D., and myself. I understand that this report is near completion and will be published in due course. It will set out the Irish banking context as well as analysing the responses to the consultation on public banking and its applicability in Ireland. It will then set out the findings and conclusions of the investigation of the Sparkassen model and other models of local public banking.