Dáil Éireann Debate, Wednesday - 24 February 2021
226. Deputy Pearse Doherty asked the Minister for Finance if he will consider the establishment of a future of Irish banking forum that would include all key stakeholders, banks, regulators, unions and external experts to consider the current state of the Irish banking market and its long-term future in view of the announced withdrawal by a bank (details supplied) from the market; and if he will make a statement on the matter. [10534/21]
View answerAs the Deputy may be aware the Financial Services Union (FSU) has suggested the establishment of a Banking Forum to consider the future of banking.
When I met with the FSU, last December, I outlined that I did not think my Department should participate in the Forum as I was concerned that it would not represent a model of good governance to have competent authorities, such as the Department of Finance and the Central Bank of Ireland, participating in the formulation of proposals and recommendations that will then be submitted to Government for objective consideration by the same competent authorities.
However, the Programme for Government highlights the importance of social dialogue and the importance of open engagement with all sectors of society. Accordingly, I and my Department are happy to engage with the FSU and other stakeholders. In that context, I engaged with the FSU late last year on the strategic review of Ulster Bank. I also met with the FSU on Friday morning after the announcement by NatWest and I have committed to further engagement with the FSU in relation to this issue.
