Finance Minister Brian Lenihan has appointed five members to the Central Bank Commission. These include a former Bank of Ireland boss and the banking expert who recently finished a preliminary investigation into the crisis in the banking system here.
The ESRI's Professor John Fitzgerald will serve a five year term, while banking expert Max Watson will also be on the commission for five years. Former Bank of Ireland chief executive Mike Soden and former SIPTU president Des Geragthy will serve on the commission for four years. UDC Professor Blanaid Clarke will stay on the commission for three years.
They will join Central Bank Governor Patrick Honohan, Matthew Elderfield (head of financial regulation), Tony Grimes (head of central banking) and Kevin Cardiff (Secretary General of the Finance Department) on the commission.
The commission is responsible for the stability of the financial system overall, the regulation of financial institutions, and the protection of consumer interests.
The appointees will take up their positions on Friday, October 1.
