Ireland sets up new financial regulation body

The Irish government said on Feb 20, 2001 it had set up a "radical and innovative" new structure for financial services regulation, linking the Central Bank of Ireland to the Financial Services Authority.The new structure, the Central Bank of Ireland and Financial Services Authority (CBIFSA), will have two independent pillars - a new Irish Financial Services Regulatory body and the Irish Monetary Authority.The board of the CBIFSA will co-ordinate relevant functions between the two.