Irish central bank outlines regulatory duties

IRELAND - The central bank has written to the Government on the scope of its regulatory duties in the aftermath of the Allfirst fraud, which cost AIB dollars $691 million.

The Department of Finance confirmed receipt of a letter from the Bank's governor, Mr John Hurley, which was sent on Tuesday.

Neither the Bank nor the Department would discuss the contents of the letter, which is likely to cite the functions of the new Irish Financial Services Regulatory Authority.

The Bank is known to have bee