Data Gaps and Shadow Banking:Profiling Special Purpose Vehicles’Activities in Ireland

Brian Godfrey, Neill Killeen and Kitty Moloney
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Brian Godfrey: Central Bank of Ireland

Quarterly Bulletin Articles, 2015, 48-60

Abstract: The role of shadow banking and securitisation has gained increasing nationaland international attention since the start of the global financial crisis in 2007. Ireland has a sizeable non-bank financial sector with a number of key components including money market funds (MMFs), investment funds (IFs) and other financial intermediaries (OFIs). This Article focuses on the activities of financial vehicle corporations (FVCs) and special purpose vehicles (SPVs) within the OFI sector. The main features of these vehicles and their linkages to the Irish and international economies are examined. The Article also discusses recent regulatory developments and potential financial stability issues arising from their activities. In order to address data gaps and to improve oversight of the SPV sector, the Central Bank of Ireland will extend quarterly reporting requirements to SPVs.

Date: 2015-07
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