Ireland clears way for greater central bank power

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Ireland's central bank is set to be granted resolution powers, which will allow it to intervene whenever a bank is close to failure.

The Irish minister for finance, Michael Noonan, on Wednesday published the Central Bank and Credit Institutions Bill, which introduced a comprehensive special resolution regime for dealing with bank insolvencies.

The Bill provides the Central Bank of Ireland with wide-ranging additional powers similar to those held by the Federal Deposit Insurance Corporation in

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