Over the last decade, the Central Bank has proactively worked in conjunction with the Oireachtas, the Government, state agencies and international counterparts to strengthen the solvency and stability of the financial sector and enhance protections for consumers. We believe that a strong consumer protection framework is essential.
Nonbank institutions—such as insurers, pension funds, and central counterparties— have become more important users of U.S. dollar funding, though they lack access to funding backstops, such as central bank facilities, in times of stress.