Central Banking

Central Bank of Ireland paper outlines changes to country’s European funding

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A paper published in the Central Bank of Ireland's Quarterly Bulletin on July 31, emphasises a decline in Irish banks' reliance on funding from eurozone countries.

The authors, Patrick Haran and Samuel Bailey, note that banks' total borrowings from the eurozone declined by €24.3 billion ($30.2 billion) in 2011 and fell by a further €1.7 billion in Q1 2012. The paper also highlights an increase in Ireland's liabilities under the Target2 real-time gross settlement system, a result of movements of

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