The taxpayer is plugging a 58 million Euro hole in the cost of financial regulation according to Sinn Féin.

The party's Finance Spokesperson Pearse Doherty says he put a question to the Governor of the Central Bank Patrick Honohan about the issue.

He says he received a response confirming that the cost of regulating financial institutions is 128 million Euro - and that some institutions only contribute 50 per cent to that cost.

Deputy Doherty says this means the taxpayer is effectively "picking up the tab for regulating the financial industry".