Pearse Doherty (Donegal, Sinn Fein)
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194. To ask the Minister for Rural and Community Development when he will publish the report on public banking; and if he will make a statement on the matter. [44102/17]

Michael 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, such as the Kiwibank model in New Zealand, which could be delivered through the post office network. The Programme for Government also includes a commitment to investigate the German Sparkassen model for the development of local public banks that operate within well-defined regions.

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. My officials, along with officials from the Department of Finance, also met with the Sparkassen Foundation for International Co-operation in relation to the German Sparkassen model and obtained detailed information from that organisation.

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