A look at the regulation of banking and credit institutions
Banking and Credit Institutions
Banking Supervision relates to the prudential supervision of banks and building societies (together referred to as "credit institutions"). The objectives of supervising credit institutions are:
- To foster a stable banking system and
- To provide a degree of protection to depositors with individual credit institutions
Banking Supervision encompasses the authorisation of banks and building societies, their prudential supervision on an on-going basis and the development of supervisory guidance and requirements for their operation. Prudential supervision involves monitoring the business of banks and building societies and how it is planned, managed, and controlled and checking compliance with statutory and non-statutory requirements.
Who the Central Bank of Ireland Supervises
The Central Bank of Ireland has overall responsibility for the authorisation, regulation and supervision of Credit Institutions operating in Ireland. Credit Institutions regulated by the Central Bank of Ireland include:
- Building Societies
- Designated Credit Unions
In addition the Central Bank of Ireland is responsible for oversight of liquidity and conduct of business for branches of non-Irish licensed banks operating in Ireland.
For further information please visit the Central Bank of Ireland website