Written answers

Tuesday, 10 October 2017

Department of Rural and Community Development

Banking Sector

Photo of Peadar TóibínPeadar Tóibín (Meath West, Sinn Fein)
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636. To ask the Minister for Rural and Community Development when the interdepartmental report into the provision of public banking will be published. [42953/17]

Photo of Michael RingMichael Ring (Mayo, Fine Gael)
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The Programme for a Partnership Government envisaged that An Post, the Irish League of Credit Unions and other interested stakeholders would be asked to investigate and propose a new model of community banking, based on particular overseas models.

My officials have been working actively with the Department of Finance over the last number of months to progress these commitments. In addition, a public consultation process, seeking views on the community banking model, was launched in early March and ran for four weeks. A total of 16 replies were received from a range of stakeholders and all submissions have been reviewed and considered. 

The Departmental officials are currently finalising a report on the merits of establishing a local public banking model in Ireland. Their work is now nearing completion and a report will be submitted to me and to the Minister for Finance shortly for consideration.  I envisage that the report will be submitted to Government for consideration prior to any decision regarding publication.

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