Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

I thank Professor Honohan. The committee would like to further discuss four or five specific issues raised in his correspondence. The opening paragraph of his letter of 12 February refers to the question: "Did the Governor have the power to issue specific directions relating to a wide range of micro-prudential policies, including credit concentration limits, during the time prior to the guarantee?" When I put this question to Professor Honohan he replied that he needed to give it further thought. On that basis, will he take us through the additional information provided on the powers of the Governor of the Central Bank and their use during the period in question? Which of the powers and actions available to the Governor were not used or taken?