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Statements on the Future of Banking in Ireland - Opening Speech by Minister Donohoe
Check Against Delivery
Ceann Comhairle, thank you for the opportunity to discuss this very important topic. I am sharing time with the Minister of State, Deputy Fleming.
We are living in uncertain times, and this assessment is particularly applicable to the banking sector. It has been a difficult year with all of the challenges that the pandemic has brought and the number of market announcements already this year.
As Deputies will recall we discussed the issue of banking at length in March. In May I was also invited to address the Seanad and hear the views of Senators on the future of banking.
Opening statement by Minister Donohoe to Seanad Ãireann on the Future of Banking in Ireland
Thank you Cathoirleach for the opportunity to discuss the future of banking this afternoon.
I will open todayâs discussion by updating you on what I see as some of the key issues: the impact of COVID-19 and our response; the changing retail financial sector environment and the challenge for banks to secure an appropriate return; as well as the continuing effort to improve regulation and rebuild trust in the banking system in this country through measures such as the Senior Executive Accountability Regime (SEAR).
Updated / Tuesday, 20 Apr 2021
09:47
65% of company directors and business leaders support the Government s Individual Accountability Legislation, a new survey shows
A new survey shows that 65% of company directors and business leaders support the Government s Individual Accountability Legislation.
56% are personally in favour of the concept of directors individual accountability, the latest quarterly Director Sentiment Monitor survey by the Institute of Directors in Ireland shows.
Support from directors and business leaders from the financial services sector alone is even higher, at 67% and 69%, respectively.
The Central Bank (Amendment) Bill 2019 includes provisions relating to the Senior Executive Accountability Regime (SEAR) and Conduct Standards on all Regulated Financial Service Providers (RFSPs).