Ireland: Financial Sector Assessment Program: Technical Note-Financial Safety Net, Bank Resolution, and Crisis Management

International Monetary Fund

No 2016/313, IMF Staff Country Reports from International Monetary Fund

Abstract: This Technical Note discusses the findings and recommendations in the Financial Sector Assessment Program for Ireland regarding the financial safety net, bank resolution, and crisis management. The introduction of the “single rulebook” for financial services regulation within the European Union and the establishment of the banking union have transformed the Irish framework for dealing with failing banks. The new regime reflects an EU-wide initiative to strengthen supervision, harmonize prudential rules, and establish a uniform bank resolution regime. The Bank Recovery and Resolution Directive has significantly strengthened the resolution regime in Ireland and the European Union. Significant progress has also been made on the banking union, although key aspects remain to be completed.

Keywords: ISCR; CR; central Bank of Ireland; resolution authorities; credit union; bank recapitalization; resolution authority; uniform bank resolution regime; resolution scheme; financial support; resolution plan; SPE resolution strategy; government stabilization tool; resolution framework; resolution planning; stabilization tool; resolution period; Bank resolution framework; Bank resolution; Credit bureaus; Crisis resolution; Crisis management; Europe; Southern Europe (search for similar items in EconPapers)
Pages: 44
Date: 2016-09-29
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