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Credit Unions

Dáil Éireann Debate, Wednesday - 4 November 2020

Wednesday, 4 November 2020

Questions (46)

Noel Grealish

Question:

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.

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