Dáil Éireann Debate, Thursday - 14 June 2018
20. Deputy Eamon Ryan asked the Minister for Rural and Community Development when the report on the community or public banking model will be published; his plans to establish an engagement or stakeholder forum to further examine the way in which such a model would be implemented; and if he will make a statement on the matter. [25902/18]
Amharc ar fhreagraThe Programme for a Partnership Government includes a commitment to investigate the feasibility of a new model of community banking for Ireland, including an investigation of the German Sparkassen model for the development of local public banks that operate within well-defined regions.
A project team comprising officials from my Department and the Department of Finance was established last year to progress this commitment.
The project team carried out detailed research into the concept of a public banking model, with a particular focus on the Sparkassen model. In addition, a public consultation process, seeking views on the concept of a community banking model, ran for four weeks. A total of 16 replies from a range of stakeholders was received.
Additionally, there has been substantial engagement and a number of meetings held with Irish Rural Link and the Savings Bank Foundation for International Cooperation - the international development wing of the Sparkassen group - on their proposal for a local public banking model in Ireland, based on the Sparkassen system.
The project team carefully analysed this proposal, as well as assessing all the submissions received during the consultation process, in order to make sure that all the ideas and opinions were considered and reflected in the report.
The report has now been completed and Minister Donohoe and I submitted it to Government for consideration in the last few weeks. I expect the report to be published very shortly and that there will be further engagement with key stakeholders at that stage.
