Governor of the Central Bank John Hurley is to appear before the Oireachtas Joint Committee on Economic and Regulatory Affairs tomorrow.
Mr Hurley is expected to answer questions on the relationship between the Central Bank and the financial regulator.
Speaking ahead of the meeting, which takes place at Leinster House at 11am, Michael Moynihan, the chair of the Committee said The 'light-touch' approach to regulation employed by the supervisory authorities in Ireland has been widely criticised for downplaying the risk of rising bad debts on substantial property loans.
"I understand that a key problem with the current system is that the financial regulator has no obligation to act on reports from the governor of the Central Bank which may warn in financial stability reports about, for example, excessive lending by banks," said Mr Moynihan.
"This meeting will give members of the Committee the opportunity to question the Central Bank governor about our regulatory system and co-operation between his organisation and that of the financial regulator and whether this impacted on the ability of supervisory authorities to deal with the crisis in our banking system," he added.