A key area where co-operation between the Central Bank and Financial Regulator has proved most useful is in respect to financial crisis management. The organisation is constantly developing its procedures to deal with potentially disruptive events and this is very much a joint effort between both parties.
The Central Bank and Financial Regulator have held joint crisis simulation exercises and, more recently, these have involved the participation of officials from the Irish treasury. This is in addition to the normal Domestic Standing Group arrangements.