asked the Minister for Finance if he will name the actual firms now carrying on business wholly or partly within the State from which the Central Bank may receive deposits under section 7 (1) (b) of the Central Bank Act, 1942.
Ceisteanna—Questions. Oral Answers. - Deposits with Central Bank.
16.
Neither the word "bank" nor the expression "credit institution" is defined in the Currency Acts or the Central Bank Acts. It is not, therefore, practicable to supply a definitive list such as that requested by the Deputy.
The Deputy no doubt appreciates that, in accordance with the opening words of section 7 of the Act of 1942, the powers conferred on the Central Bank by that section are exercisable "on such occasions and to such extent as the Board shall think proper", that is to say, at the discretion of the Board.
Is the Minister not in a position to say what actual firms carrying on business wholly or partly in the State may make deposits with the Central Bank or from whom the Central Bank may accept deposits?
The Central Bank is authorised to accept deposits from any financial institution.
Must it be a bank or a hire purchase company?
A hire purchase company would be included.
Any firm dealing in money?
Yes. The definition is widely drafted. It does not give details.