The Oireachtas Banking Inquiry will continue hearings on the role of the Central Bank and Financial Regulator tomorrow, Wednesday, 27th May 2015 when it will hear from Tony Grimes, former Director General, Central Bank of Ireland; Mary Burke, Central Bank of Ireland\/IFSRA; and Con Horan, Central Bank of Ireland\/IFSRA.<\/p>\n
Chairman Ciaran Lynch TD said: \u201cTomorrow we will resume our hearings on the role of the Central Bank and Financial Regulator. Among the issues we will be addressing with Mr Grimes relating to his role as Director General and subsequent roles at the Central Bank are: the adequacy of the assessment and communication of both solvency and liquidity risks in the banking institutions and sector; the nature and appropriateness of the relationship between the Central Bank (including the Financial Regulator), Department of Finance and the banking institutions; the effectiveness of the communication between the Central Bank and the Department of Finance; the appropriateness of the expert advice sought, quality of analysis of the advice and how effectively this advice was used; the appropriateness of the bank guarantee decision; the effectiveness of reviews of banks\u2019 loan books and capital adequacy; and the decision to nationalise Anglo in 2009 and a review of the alternatives available and\/or considered.<\/p>\n
\u201cMary Burke will asked to give evidence relating to her role as Head of Banking Supervision at the Irish Financial Services Regulatory Authority, and subsequent roles within the Central Bank of Ireland on the following lines of inquiry; the appropriateness of the regulatory regime; the effectiveness and appropriateness of the supervision policy and powers; the appropriateness of the macro economic and prudential policy; the effectiveness of the use of supervisory powers; the nature and effectiveness of the operational implementation of the macro economic and prudential policy; the adequacy and impact of international organisations\u2019 oversight on banking regulation and supervision activity; the integrity of financial reporting; analysis of liquidity risks under adverse scenarios; capital structure and loss absorption capacity; and the effectiveness of the external audit processes to identify and report to the board and management, any concerns related to significant risk exposures, including property, funding and liquidity.<\/p>\n
\u201cAmong the lines of inquiry we will consider with Con Horan relating to his role as Prudential Director and Head of Banking Supervision at the Irish Financial Services Regulatory Authority and subsequent roles in the Central Bank of Ireland are: the appropriateness of the macro economic and prudential policy; the composition, skills, experience and number of resources at the Central Bank, Financial Regulator and Department of Finance; the effectiveness of the use of supervisory powers; the adequacy of the assessment and communication of both solvency and liquidity risks in the banking institutions and sector; the appropriateness of the expert advice sought, quality of analysis of the advice and how effectively this advice was used; the analysis and consideration of the response to contrarian views, both internal and external; the appropriateness of property-related lending strategies and risk appetite; the appropriateness of funding sources \u2014 the mix, maturity profile and cost; the capital structure and loss absorption capacity; inter-departmental contact and the Memorandum of Understandings with other EU states on the issue of banking; the liquidity versus solvency debate; the adequacy and impact of international organisations\u2019 oversight on banking regulation and supervision activity; and the quality and effectiveness of European policies and regulations.<\/p>\n
The schedule for tomorrow\u2019s meeting which will take place in Committee Room 1, Leinster House is:<\/p>\n
Session 1: 9.30 am \u2013 1 pm<\/strong><\/em> Session 2: 2.30 pm \u2013 4.15 pm<\/strong><\/em> Session 3: 4.15 pm \u2013 6 pm<\/strong><\/em> Further information on the Oireachtas Banking Inquiry can be accessed on this website. Full committee proceedings will be webcast live on this website.<\/p>\n Committee proceedings can also be viewed on the move, through the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.<\/p>\n All media enquiries in relation to the Oireachtas Banking Inquiry should be addressed to:<\/p>\n Ciaran Brennan, P: +3531 618 3903 All general enquiries should be directed to the Committee Secretariat.<\/p>\n e. contactbankinquiry@oireachtas.ie Committee Membership<\/strong><\/p>\n Deputies<\/em><\/p>\n Ciar\u00e1n Lynch (Chairman) Senators<\/em><\/p>\n Sean D Barrett The Oireachtas Banking Inquiry will continue hearings on the role of the Central Bank and Financial Regulator tomorrow, Wednesday, 27th May 2015 when it will hear from Tony Grimes, former Director General, Central Bank of Ireland; Mary Burke, Central Bank of Ireland\/IFSRA; and Con Horan, Central Bank of Ireland\/IFSRA.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[],"_links":{"self":[{"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/posts\/5513"}],"collection":[{"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/comments?post=5513"}],"version-history":[{"count":1,"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/posts\/5513\/revisions"}],"predecessor-version":[{"id":5514,"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/posts\/5513\/revisions\/5514"}],"wp:attachment":[{"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/media?parent=5513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/categories?post=5513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/inquiries.oireachtas.ie\/banking\/wp-json\/wp\/v2\/tags?post=5513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nTony Grimes, former Director General, Central Bank of Ireland<\/p>\n
\nMary Burke, Central Bank of Ireland\/IFSRA<\/p>\n
\nMr. Con Horan, Central Bank of Ireland\/IFSRA<\/p>\n
\nHouses of the Oireachtas,
\nCommunications Unit,
\nLeinster House,
\nDublin 2<\/p>\n
\nM: 086-0496518
\nF: +3531 618 4551<\/p>\n
\nt. +353 1 618 3651<\/p>\n
\nPearse Doherty
\nJoe Higgins
\nMichael McGrath
\nEoghan Murphy
\nKieran O\u2019Donnell
\nJohn Paul Phelan<\/p>\n
\nMichael D\u2019Arcy
\nMarc MacSharry
\nSusan O\u2019Keeffe<\/p>\n","protected":false},"excerpt":{"rendered":"