Central Bank governor Patrick Honohan at the Banking Inquiry last June
“The banking inquiry has found that both the Financial Regulator and Central Bank had sufficient powers to intervene in the banking sector to protect the financial stability of the State, but neither intervened decisively.”
“In its final report, RTÉ News understands that the committee says the Financial Regulator also failed to identify the systemic risks building up in the banking sector.”
Meanwhile, on RTÉ’s News At One, journalist Sandra Hurley reported that the full report is expected to be published on Wednesday.
“There will be some criticism that a lot of this we heard before but I suppose the difference now is that these are the findings of an official parliamentary inquiry so it puts the narrative on a sort of official basis and also, next week, we’re also expecting to see 1,400 documents – many of which have never been published before. And that, again, will also add to our understanding of what happened.”