Monetary policy implementation Turning now to implementation, the Central Bank has played and continues to play a full part in the Eurosystem's monetary policy implementation process. At the operational level, Central Bank staff carry out the Eurosystem's regular money market management operations with Dublin based banks.
Reflecting the importance of Dublin as an international financial centre, the banking system in Ireland has a disproportionately high share of Eurosystem operations; for example, the normal level of outstanding lending by the Bank is in excess of EUR18 billion.