Some of the important developments pertaining to the money market are: First, with a view to transforming the call/notice money market into a pure inter-bank market with participation of banks and primary dealers (PDs) only, non-bank participants have been completely phased out of the call money market. Second, several new financial instruments have been introduced.
In addition to the direct disruption to international trading arrangements, adverse developments in the UK economy have a general spillover impact in Ireland, via export demand, the value of Irish-owned operations in the UK, asset prices and confidence effects.