In our view, the structure of the industry here in Ireland and the risks that it poses to the Central Bank’s objectives means that the principal (but not exclusive) focus of our supervisory effort should be on the fund service providers.
The development of the appropriate infrastructure for pooling such information on an EU-wide  BIS Review 125/2010  1  basis will be a major step forward in the assessment of financial stability in the single market, but this will require substantial analytical and data-related expertise, as well as market knowledge.