An tOrd Gnó - Order of Business
Seanad Éireann — 2025-12-09
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Conor Murphy (SF), Industrial and Commercial Panel

The issue I wish to raise is on the Order of Business itself. It is the proposition to take without debate the motion regarding about the credit institutions (financial support) (revocation) scheme and the credit institutions (eligible liabilities guarantee) scheme 2025. I am very concerned this is a deregulation of the banking sector and that it is to be done without debate, particularly in circumstances where I do not believe we have been provided with adequate detail. The advisory note attached to the motion states there are a number of obligations set out in the credit institutions (financial support) scheme and the eligible liabilities guarantee scheme that continue to apply to Bank of Ireland, AIB and PTSB group companies. If these schemes are revoked, it seems, there will be less obligation on the banks in terms of reporting to the Minister and Central Bank on compliance, risk management, executive pay, etc. Some of these may be covered by other legislation or EU regulation, but that does not seem to be the case for all these obligations. I do not believe it is good practice to have a change to banking regulations pass through the Seanad without debate or guarantees that these changes in no way reduce the banking regulation in this state. It is a poor way to do business. We have all been elected to this House to provide a degree of scrutiny of what the Government is doing and to ensure that we are holding to account decisions, particularly legislative decisions, that affect the people of the State. To allow motions like this through without debate is bad practice and, for that reason, I will be opposing the Order of Business as it includes this motion today.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/seanad/2025-12-09/debate/main
Retrieved: 2026-08-14T04:54:26+00:00
Sitting date: 2025-12-09