Taxpayers still funding €58m in bank regulation costs

Taxpayers are paying almost half of a €128m bill for regulating the banks and financial institutions which are failing to fund their own oversight costs.

Central Bank governor Patrick Honohan, after a recent meeting with the Dáil’s finance committee, confirmed the situation was still occurring six years on from the economic crash.

In correspondence sent to Sinn Féin finance spokesman Pearse Doherty and made public last night, Mr Honohan said that of the €128m annual bill to regulate banks and related institutions, the businesses are funding just €70m.