Financial Stability and Reform Bill 2013

Public bill · Private Member · Introduced

The proposal would make banks safer by requiring stronger financial cushions and separating everyday banking—such as deposits, mortgages and small-business lending—from riskier investment and wholesale activities. It would give the Central Bank wider powers, including setting debt and other safeguards, overseeing compensation arrangements and studying an Irish version of the US “Volcker Rule” to limit risky trading. Any future extraordinary State support for banks would require approval by 75% of Dáil members, aiming to reduce taxpayer exposure and prevent banks becoming “too big to fail”.

Formal long title

Bill entitled an Act to promote the financial stability of Ireland by improving accountability and transparency in the financial system; reduce systemic risk; end "too big to fail"; improve capital adequacy and to protect the State from non-transparent safety net subsidies and open-ended bailouts of monetary and financial institutions

Last updated 25 April 2018