Dáil Éireann Debate, Thursday - 3 October 2013
38. Deputy Billy Timmins asked the Minister for Finance the number of inspection audits carried out at each of the banks, AIB, Bank of Ireland, Ulster Bank and Permanent TSB by the Central Bank inspection team in the past 18 months; the average number of audit-inspection staff on the audit-inspection visitation teams; and if he will make a statement on the matter. [41484/13]
View answerI am advised by the Central Bank that information on the Prudential Supervision Engagement Process conducted of credit institutions in 2012 is available on Page 37 of the Central Bank Annual Report 2012 (an extract from which is shown in the following table below. The Central Bank conducts continuous supervision of these high impact institutions and this consists of review work across all risk categories including credit, liquidity, market risk, operational risk, governance, capital and conduct. I am advised by the Central Bank that it is unable to provide a breakdown of these inspections by each bank.
Table 1 - Prudential Supervision Engagement Process 2012
|
PRISM ENGAGEMENTS |
Banking |
|
Full Risk Assessment (SREP) |
10 |
|
Risk Governance Panels |
7 |
|
Meeting with Chief Executive Officer (CEO) |
52 |
|
Meeting with Chief Financial Officer (CFO) |
41 |
|
Meeting with Chief Risk Officer (CRO) |
44 |
|
Meetings with Chairman |
25 |
|
Meetings with Senior Non-Executive Directors (NEDs) |
28 |
|
Meetings with Internal Auditor |
22 |
|
Meetings with External Auditor |
17 |
|
Board Meeting Attendance |
16 |
|
Attendance at Board Committees |
34 |
|
Meetings with other Senior Management |
84 |
|
Other On-Site Meetings |
43 |
|
Meetings with Board Independent Non-Executive Directors (INEDs) |
20 |
|
Meetings with Group NEDs |
10 |
|
Meetings with Compliance Officer |
8 |
|
Other Reviews - non-PRISM |
4 |
|
Financial Risk Review (FRR) |
20 |
|
Other (not incl. FRR meetings) |
102 |
|
Total |
587 |
