Authorities

On 1 May 2003  a government decision changed the Central Bank of Ireland  to the Central Bank and Financial Services Authority of Ireland. 
The structure combines two distinct component entities – the Central Bank and the Financial Regulator – each with its own particular set of responsibilities and each with its own specific governance structure.

• Central Bank

www.centralbank.ie

The Central Bank’s responsibilties include surveillance of the strengths and vulnerabilities of the overall economy and financial system.  The Central Bank has responsibility for monetary policy functions, financial stability, economic analysis, currency and payment systems, investment of foreign and domestic assets and the provision of central services.

• The Financial regulator (Financial Service Authority)

 www.financialregulator.ie

The Financial Regulator’s remit includes monitoring the financial soundness of individual institutions, in addition to wide-ranging consumer protection powers.  

The purpose of the Financial Regulator is:

• to help consumers to make informed decisions* on their financial affairs in a safe and fair market; and
• to foster sound dynamic financial institutions in Ireland

The Financial Regulator undertakes its role in a number of integrated ways:

• Rigorous authorisation procedures for entrants to the financial services market
• Supervision of financial service providers which focuses on their solvency and risk management processes
• Recurring compliance with consumer protection code so that financial service providers act in a fair and transparent manner in their dealings with consumers
• Provision of independent information to consumers to raise awareness of the costs, risks and benefits of various financial services* 

*With effect from 1 March 2010, the statutory consumer information and education functions transferred to the National Consumer Agency.

• National Consumer Agency  

www.nca.ie  

• CSO central statistics office irland

www.cso.ie