Peter Fitzpatrick (Louth, Fine Gael)
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213. To ask the Minister for Finance if he will address a matter (details supplied) regarding bank accounts closures; and if he will make a statement on the matter. [24765/18]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy is aware notwithstanding the fact that the State is a shareholder in the institution, the Minister has no direct function in the relationship between Bank of Ireland and its customers. The Minister must ensure that the bank is run on a commercial and independent basis. It would not be appropriate therefore, for the Minister to intervene in the case of any particular customer.

However, I have received the following response from Bank of Ireland:

The Bank cannot comment on individual customer accounts. Banks operate in a highly regulated sector and are bound by a range of legislative and regulatory requirements emanating from national and international bodies, and national legislators in Ireland, the UK and the US. In the provision of all banking services, including the management and operation of accounts, banks must ensure that all transactions meet these regulatory and legislative requirements. Additionally banks must ensure that all transactions meet their risk appetite for the provision of banking services.