*  *  *  General introduction I would like to welcome you to the publication of the Central Bank’s first annual stand-alone report on the stability of the financial system in Ireland. The report is published in accordance with our mandate under the Central Bank and Financial Services Authority of Ireland Act, 2003.
Our mandate as a member of the European System of Central Banks also requires us, in conjunction with the various national central banks, to contribute to financial stability. Financial Stability Reports are an element in the discharge of this mandate.