Business Irish

Thursday 14 December 2017

Central Bank legal fees hit €7m

The Central Bank headquarters in Dublin
The Central Bank headquarters in Dublin

Central Bank spending on legal fees increased 12pc to just over €7.3m in 2016.

Figures published by the regulating body show that legal fees increased to €7.33m in 2016 from €6.5m in 2015.

However, the Central Bank refused to provide information regarding the legal firms and barristers who were in receipt of the fees, and what they commanded in individual fees.

Disclosing such information could prejudice the effectiveness of cases as it could show the amount of work being carried out in a particular case, said a spokesperson.

The Central Bank governor, Professor Philip Lane, this month received a pay rise of around €7,000, bringing his total annual remuneration to €261,476.

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