But that is a system which has been shaken by the evolving crisis from which it will emerge in a reconfigured form. Influencing the design of this reconfiguration through domestic, regional European, and wider international governance structures is a major preoccupation of financial policymakers: what will the role of London be in the reconfigured system, how will Ireland fare?
Second, a macro-prudential stability levy (a bank levy) on the non-core liabilities of banks was put into effect from August 2011, with the levy rate varying depending on maturity–in a range from 20 basis points for short-term liabilities with maturities of one year or less to 2 basis points for longer-term liabilities with maturities five years or longer.