*  *  *  You are all very welcome to this press briefing to mark the publication of the Central Bank’s Annual Report for 2004. The Annual Report gives a detailed account of our activities in 2004. It again proved to be a very busy period for us, with major developments at both domestic and European levels.
The re-structuring of the Central Bank that took place in 2003 was firmly bedded down last year. As you know, the creation of the Financial Regulator as a distinct component of the Central Bank and Financial Services Authority of Ireland was a major development that has led to significant change throughout our organisation.