Dáil Éireann Debate, Tuesday - 6 February 2018
155. Deputy Pearse Doherty asked the Minister for Finance the number of applications that have been revived for banking licences in each of the past five years; the number of licences granted; and if he will make a statement on the matter. [5995/18]
Amharc ar fhreagraThe Central Bank of Ireland utilises a three-stage banking authorisation assessment process, the first two stages being part of a pre-application assessment, followed by submission of a formal application. It should be noted that it is the European Central Bank which determines whether a banking authorisation should be granted under section 9 of the Central Bank Act, 1971 (general banking authorisations). The Central Bank of Ireland is the competent authority for Third Country Branches (a credit institution whose head office is located in a state or territory other than an EEA state and which holds an authorisation to carry on banking business in that state or territory from the authority that exercises in that state or territory functions corresponding to those of the Central Bank). The data contained below refers only to applications which progressed to the formal application stage, and licences granted.
I am informed by the Central Bank that the number of applications for a banking licence received and granted in the past five years is as follows:
|
Year |
Number of Applications Received |
Number of Licences Granted |
|
2013 |
None |
One[1] |
|
2014 |
None |
None |
|
2015 |
One |
One |
|
2016 |
None |
None |
|
2017 |
None |
None |
[1] The application was received in October 2012.
The above table does not reflect ongoing assessments in relation to material expansions of activities proposed by existing banking licence holders.
Given the likely effects of Brexit, the Central Bank is currently in discussions with a number of entities that may seek an authorisation in this jurisdiction.
