Dáil Éireann Debate, Tuesday - 24 May 2016
105. Deputy Pearse Doherty asked the Minister for Finance the advisory opinions sought from the European Central Bank because domestic legislation affected the workings of the Central Bank; the length of time from the request until the opinion was received, by case; the legislative changes he made as a result; and if he will make a statement on the matter. [11438/16]
Amharc ar fhreagraThe following table sets out Central Bank of Ireland-related legislation on which advisory opinions have been sought from the European Central Bank, the date the opinions were sought, and the date the opinions were provided.
Consultation of the European Central Bank is a requirement of the Treaty on the Functioning of the European Union where the draft law relates to the Central Bank of Ireland and contains rules applicable to financial institutions, insofar as they materially influence the stability of financial institutions and markets.
The Treaty is silent on any obligation by national authorities to make legislative changes reflecting ECB opinions. However, invariably any ECB opinion would become part of the deliberative process as the draft legislation is presented and progressed through the Houses of the Oireachtas. Ultimately it is a matter for the Oireachtas to decide whether or not to make any legislative changes to the published draft law.
It should be noted that the ECB has, on occasion, provided opinions on legislation without a request from the Government, including independently or on request of a body other than the Minister/Department. Opinions have also been sought and provided in relation to matters other than Central Bank-related legislation. These have not been included in this response, however they may be found on the ECB's website here: https://www.ecb.europa.eu/ecb/legal/opinions/html/index.en.html.
|
Legislation |
Date opinion sought |
Date opinion received |
|
Financial Emergency Measures in the Public Interest Bill 2015* |
23 October 2015 |
11 November 2015 |
|
Financial Services (Deposit Guarantee Scheme) Act 2009 and draft regulations transposing certain provisions of Directive 2014/49/EU |
9 October 2015 |
29 October 2015 |
|
Central Bank (Amendment) Bill 2014 |
8 December 2014 |
19 December 2014 |
|
Consumer Protection on the Sale of Loan Books Bill 2014 |
11 August 2014 |
12 September 2014 |
|
Public Service (Recruitment and Appointments) (Amendment) Bill 2013* |
6 January 2014 |
28 January 2014 |
|
Central Bank (Supervision and Enforcement) Bill 2011 |
24 June 2013 |
9 July 2013 |
|
Financial Emergency Measures in the Public Interest Bill 2013* |
27 May 2013 |
28 June 2013 |
|
Credit Reporting Bill 2012 |
6 November 2012 |
21 December 2012 |
|
Freedom of Information Bill 2012* |
6 September 2012 |
19 October 2012 |
|
Credit Reporting Bill 2012 |
24 August 2012 |
5 October 2012 |
|
Credit Union Bill 2012 |
18 July 2012 |
4 September 2012 |
|
Central Bank (Supervision and Enforcement) Bill 2011 |
18 May 2012 |
16 July 2012 |
|
Financial Emergency Measures in the Public Interest (Amendment) Bill 2011 and the Public Service Pensions (Single Scheme) and Remuneration Bill 2011* |
20 December 2011 |
26 January 2012 |
|
Central Bank and Credit Institutions (Resolution) (No 2) Bill 2011 |
28 September 2011 |
21 October 2011 |
|
Central Bank (Supervision and Enforcement Bill 2011 |
28 July 2011 |
9 September 2011 |
|
Central Bank and Credit Institutions (Resolution) Bill 2011 |
28 February 2011 |
26 April 2011 |
|
Credit Institutions (Stabilisation) Bill 2010 |
10 December 2010 |
17 December 2010 |
|
Central Bank Reform Bill 2010 |
9 April 2010 |
17 June 2010 |
|
Central Bank of Ireland Bill 2010 (draft heads) |
22 February 2010 |
7 April 2010 |
|
Draft law amending the law on Ireland's membership of the International Monetary Fund (Bretton Woods Agreements Act 1957 to 1999) |
27 January 2010 |
9 February 2010 |
|
Credit Institutions (Eligible Liabilities Guarantee) Scheme 2009 |
22 October 2009 |
9 November 2009 |
|
Draft amendments to the Central Bank Act 1942, to be included in the draft National Asset Management Agency Bill 2009 |
20 October 2009 |
4 November 2009 |
|
National Asset Management Agency Bill 2009 |
30 July 2009 |
31 August 2009 |
|
Credit Institutions (Guarantee of Eligible Debt Securities) Scheme 2009 and Section 17 of the Financial Measures (Miscellaneous Provisions) Bill 2009 |
18 June 2009 |
25 June 2009 |
|
National Pensions Reserve Fund (Amendment) and Miscellaneous Provisions Bill 2009 |
23 February 2009 |
25 February 2009 |
|
Financial Services (Deposit Guarantee Scheme) Bill 2008 accompanied by the draft European Communities (Deposit Guarantee Schemes)(Amendment) Regulations 2008 |
30 October 2008 |
17 November 2008 |
|
Credit Institutions (Financial Support) Scheme 2008 |
10 October 2008 |
15 October 2008 |
|
Credit Institutions (Financial Support) Bill 2008 |
1 October 2008 |
3 October 2008 |
|
Asset Covered Securities (Amendment) Bill 2007 |
25 January 2007 |
14 February 2007 |
|
Central Bank and Financial Services Authority of Ireland Bill (No. 2) 2003 |
24 September 2003 |
19 November 2003 |
|
Central Bank and Financial Services Authority of Ireland Bill 2002 |
16 April 2002 |
5 June 2002 |
|
Amendment to the Economic and Monetary Union Act 1998 |
11 January 2002 |
1 February 2002 |
|
Dormant Accounts Bill 2001 |
14 May 2001 |
31 May 2001 |
|
Mortgage and Public Credit Bond Bill (preliminary draft) |
14 March 2001 |
25 April 2001 |
*Opinion sought by the Minister for Public Expenditure and Reform
