Dáil Éireann debate -
Tuesday, 7 Oct 2003

Vol. 571 No. 4

Written Answers. - Central Bank and Financial Services Authority of Ireland.

Richard Bruton

Question:

234 Mr. R. Bruton asked the Minister for Finance the total expenditure and the total number employed in the Central Bank of Ireland over the past five years; and the details of expansion which is now occurring to cater for the new responsibilities by bringing the Financial Services Regulation Authority within the Central Bank group. [21951/03]

Minister for Finance (Mr. McCreevy)

I have no statutory function in relation to staff numbers in the Central Bank and Financial Services Authority of Ireland, CBFSAI. As the Deputy will be aware, certain additional functions were taken on by the bank on the establishment of the Irish Financial Services Regulatory Authority, IFSRA, on 1 May 2003 and those functions have been delegated to the IFSRA. This will result in an increase in the overall numbers employed in the bank.

While I do not have a statutory function in relation to the expenditure of the CBFSAI, I will, under Section 33N of the Central Bank Act 1942, have to approve the annual statement of income and expenditure for the regulatory authority before the end of the year. With regard to total expenditure over the past five years, I refer the Deputy to the published annual accounts of the Central Bank, which contain a comprehensive breakdown of the information sought.