Dáil Éireann Debate, Tuesday - 24 July 2018
262. Deputy Michael McGrath asked the Minister for Finance if he has received the report by the Central Bank on banking culture ordered in the wake of the tracker mortgage scandal; when he will bring that report to Cabinet; when he will be publishing it; when he expects to act on the recommendations; and if he will make a statement on the matter. [33907/18]
Amharc ar fhreagraOn foot of the serious cultural failings in banks brought to light in the Tracker Mortgage Examination, I requested that the Central Bank undertake a review of the culture within the Irish retail banks, under Section 6A of Central Bank Act 1942, as amended.
The report is an independent Central Bank Report, which sets out the Central Bank’s analysis of the culture within the retail banking sector, specifically the five main lenders subject to the Tracker Mortgage Examination. The Central Bank Report also sets out a number of recommendations.
I received the report on 11 July. It is being brought before Cabinet today, 24 July, and once noted by Government will be published by the Central Bank. It would not be appropriate for me to comment publicly on the content of the report before it is published by the Central Bank. However, I can say that my officials will work with the Central Bank to address the recommendations which necessitate legislative change, and I propose to do so under the ongoing Central Bank Amendment Bill project.
