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Credit Unions

Dáil Éireann Debate, Wednesday - 4 November 2020

Wednesday, 4 November 2020

Questions (46)

Noel Grealish


46. Deputy Noel Grealish asked the Minister for Finance the number of staff in the registry of credit unions by division of units within the registry; the way in which this has changed since the commencement of the Credit Union and Co-operation with Overseas Regulators Act 2012; and if he will make a statement on the matter. [34118/20]

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Written answers (Question to Finance)

The Central Bank has informed me that the number of staff in the Registry of Credit Unions is currently 52, allocated across the following activities:

- Supervision

- Intervention & Restructuring

- Policy Framework / Regulatory Approvals

- Business Model Engagement

- Operations

The majority of staff are engaged in supervision and intervention and restructuring activities.

In 2012 there were 48 staff allocated across the following areas:

- Supervision

- Intervention & Restructuring

- Policy Framework

- Financial Analysis

- Operations

A dedicated Business Model Engagement unit was established in 2016, to engage on business model development from a regulatory perspective.

Since 2019, the Financial Analysis function has been relocated within the Central Bank’s Risk Analysis, Data Analytics & Reporting Division.