Draft Irish law sketches resolution fund, living wills


Dublin on Monday published a draft law that mandates the establishment of bank resolution regimes and living wills, and gives the Central Bank of Ireland the right to set up bridge banks.

The Central Bank and Credit Institutions (Resolution) Bill 2011, a draft of which was published on the government's news website, concerns measures that were part of the terms of Ireland's European Union (EU)-IMF bailout. The bill includes the establishment of a resolution fund to which banks must contribute.

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