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Banking Sector

Dáil Éireann Debate, Wednesday - 24 March 2021

Wednesday, 24 March 2021

Questions (455)

Gerald Nash

Question:

455. Deputy Ged Nash asked the Minister for Finance his views on the proposal by a union (details supplied) on the need to establish a structured forum on banking to consider the future of the banking landscape in Ireland; if his Department will engage with the union to consider the proposals further; and if he will make a statement on the matter. [14538/21]

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Written answers

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, I assured the FSU that I and my Department would examine any proposals or any outputs from the FSU or a banking forum organised by it, should one be established.

In addition 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 following the announcement by NatWest that it intends withdrawing from the banking sector in the State and has begun the process of winding down its ROI Ulster Bank business and I have committed to further engagement with the FSU in relation to this issue.

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