Banking

CCPC calls for Central Bank competition mandate

Commission tells Department of Finance such a move would represent a significant expansion of the regulator’s remit, which currently includes ensuring the stability of the financial sector and a consumer protection role

Gabriel Mahklouf, Central Bank governor.

The Central Bank of Ireland’s remit should be expanded to include a competition mandate, the country’s existing competition watchdog has said.

In a submission to the government’s banking consultation, the Competition and Consumer Protection Commission (CCPC) told the Department of Finance it believes the financial regulator should also have a role to play in overseeing competition in the sector.

Such a move would represent a significant expansion of the regulator’s remit, which currently includes ensuring ...