Michael McGrath (Cork South Central, Fianna Fail)
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71. To ask the Minister for Finance the cost of regulating the financial sector in 2016 and 2017; the amount of regulatory fees collected by the Central Bank from each tier in the same period; the number of entities in each tier of regulated entity such as retail credit firm, licensed credit institution and so on in tabular form; and if he will make a statement on the matter. [11937/18]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Central Bank have provided the table below outlining the costs of regulating the financial sector in 2016, and the budgeted cost of regulating the financial sector in 2017 (budgeted costs are being used as the Central Bank's financial statement for 2017 have not yet been finalised and published).

It should be noted that amounts levied do not equal the cost of financial regulation multiplied by the relevant contribution rate due to:

a) the impact of the smoothing of Central Bank pension costs; and

b) the decision that the domestic credit institutions covered by the Credit Institutions (Eligible Liabilities Guarantee) Scheme 2009 are required to fully fund the cost of the intensive level of supervision provided for as part of the Scheme. This was, however, partially offset by:

1. the continued capping of the credit union levy at 0.01 per cent of total assets.

2. an adjustment for under/over recovery of costs carried forward from the prior year.

*Financial statement for 2017 have not yet been published

**Levy payable by a credit union is currently capped at 0.01% of total assets

***Fee payable based on number and type of transactions