Ireland

O'Connell swaps central bank for sporting role

FEATURE - Central banks aren't the only ones to hold gold. The Brazilian World Cup football team will tell you that, and they've got plenty in reserves over the years. But CentralBankNet learns that the, oh so, unlucky Irish team are set to receive help,…

Central Bank of Ireland, Summer 2002 Bulletin

REPORT - The Central Bank of Ireland published on Friday its Quarterly Bulletin for Summer 2002. The report highlights that economic activity in Ireland seems to have picked up modestly from its nadir in the third quarter of last year.

AIB signs new risk-control agreement

US - The Federal Reserve Bank of Richmond, the Maryland Commissioner of Financial Regulation and the Central Bank of Ireland have signed a written agreement with Allied Irish Banks, Allfirst Financial and Allfirst Bank setting out the steps to be taken…

Ireland asks - Please be gentle with your euros

IRELAND - The new euro notes are taking a battering in Ireland. Despite being in circulation only four months some of them have deteriorated to such an extent that they will have to be replaced.

Speech by J Hurley, Ireland's central bank, 9 Apr

SPEECH - In his first public speech since assuming the governor's role, Mr Hurley signalled the need for some refinement of existing regulation following the fraud at AIB's US subsidiary, Allfirst. The Bank has serious concerns about controls that failed…

Legislation may see expanded role for Irish c bank

IRELAND - The Minister for Finance in Ireland, Mr McCreevy, has laid the foundation for the creation of a restructured Central Bank that will incorporate consumer protection and prudential regulation of the financial services sector.

Auditing guide on banks

IRELAND - Auditors of banks have been issued with guidance notes to help them decide when they should report matters of concern to the Central Bank. Similar practice notes from the Auditing Practices Board will be issued for the auditing of insurers and…

Banks review systems for managing risk

UK - Risk managers at banks in Britain and Ireland are re-examining defences against rogue traders following the loss of $750m (£532m) by Allied Irish Banks last week.

Punt passes away quietly

IRELAND - The Irish pound ceased to be legal tender from midnight on Saturday as Ireland became the second country within the eurozone - after the Netherlands - to ditch its old notes and coins.

Top civil servant to be new governor in Ireland

IRELAND - Mr John Hurley, the senior civil servant in the Department of Finance, will be the new governor of the Central Bank. The incumbent, Mr Maurice O'Connell, has indicated to the Minister for Finance, Mr Charlie McCreevy that he will be stepping…

Shoppers and forgers move to euro

EUROPE - Two weeks after the launch of euro notes and coins, more than 90% of transactions in Ireland are being made in the currency, the country's official changeover body said.

Euros become majority currency in Ireland

IRELAND - The amount of euros in circulation has for the first time surpassed the amount of pounds in circulation, according to latest figures from the Central Bank of Ireland. At close of business on Thursday, the Central Bank had issued 148 million…

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