European Parliament Library

Ireland :, Report on Observance of Standards and Codes (ROSC)

This Report on Observance of Standards and Codes (ROSC) on Ireland highlights that the Central Bank of Ireland has made significant progress in implementing a proactive and intensive approach to supervision. The Probability Risk and Impact System, the backbone of the new risk-based supervisory approach, is intellectually appealing and significant progress was evident to the mission and recognized by market participants. The reform process is relatively young and effective implementation is still a work in progress that demands additional skills and resources. It is critical to maintain a clear direction and focus on implementation efforts, and that enforcement powers are used as a successful deterrent, including the new powers the Central Bank of Ireland was given under the Central Bank of Ireland Act 2013. The Central Bank of Ireland has set up sound foundations; however, gauging the full effectiveness of the reforms requires time for the new framework to season and for staff to gain experience through its use
Table Of Contents
Cover; CONTENTS; GLOSSRY; EXECUTIVE SUMMARY; BACKGROUND; A. Market Structure-Overview; TABLES; 1. Ireland: Structure of the Financial System; B. Institutional Setting; C. Prevailing Supervisory Situation Before the Financial Crisis; D. Recent Reform Efforts; ASSESSMENT OF THE BASEL CORE PRINCIPLES FOR EFFECTIVE BANKING SUPERVISION; A. Background Information and Methodology Used; B. Main Findings; 2. Summary Compliance with the Basel Core Principles; C. Recommended Actions; 3. Recommended Actions to Improve Compliance with the Basel Core Principles; D. Authorities' Response to the Assessment
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (40 p.)
Specific Material Designation
Form Of Item

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