Bank Charges

Dáil Éireann Debate, Thursday - 16 January 2014

Thursday, 16 January 2014

Questions (83)

Bernard Durkan

Question:

83. Deputy Bernard J. Durkan asked the Minister for Finance the extent to which bank charges in this country are comparable to those that exist in other EU jurisdictions; and if he will make a statement on the matter. [2120/14]

Written answers

Minister for Finance

As the Deputy may be aware, the Programme Documents (the Memorandum of Understanding on Specific Economic Policy Conditionality and the Memorandum of Economic and Financial Policies) agreed following the 10th Review of the EU-IMF Programme of Financial Support include a commitment to carry out an assessment of banks’ fee income by end-December 2013 as follows:

The authorities will assess banks’ fee income relative to peers in selected other jurisdictions. Based on this assessment they will complete an external review of the regulation of bank fees.

The assessment and review were undertaken by the Department and completed in December 2013. The review was sent to the Troika on completion and my intention is that the report containing analysis such as that sought by the Deputy will be published shortly.