Central Bank & Financial Services Authority of Ireland

From MarketsWiki
Jump to: navigation, search
Central Bank & Financial Services Authority of Ireland
Founded 1943
Headquarters Dublin, Ireland
Key People John Hurley, Governor
Website www.centralbank.ie

The Central Bank & Financial Services Authority of Ireland[1] acts as agent for, and banker to, the government of Ireland.

History

In 1943, the Central Bank of Ireland [2] came into being. In 1999, the Central Bank became part of the Economic and Monetary Union in Europe and a member of the Eurosystem. In 2003, the bank was restructured and renamed the Central Bank and Financial Services Authority of Ireland (CBFSAI). The CBFSAI has two components.

  • The Central Bank, which is responsible for monetary policy functions, financial stability, economic analysis, currency and payment systems, investment of foreign and domestic assets and the provision of central services.
  • The Irish Financial Regulatory Authority (Financial Regulator), which is responsible for financial sector regulation and consumer protection.

Products and Services

The Central Bank's responsibilities include:

  • Contributing to the maintenance of price stability and a stable financial system
  • Ensuring safe and reliable payment and settlement systems
  • Producing and distributing euro banknotes and coins and ensuring the security and integrity of the euro currency
  • Managing foreign exchange assets on behalf of the European Central Bank
  • Providing advice and guidance on Irish economic policies
  • Serving the public interest

Key People

References

  1. Central Bank and Financial Services Authority of Ireland. Citizens Information.
  2. About the Bank. Central Bank & Financial Services Authority of Ireland.