The Central Bank of Ireland is organised into the two policy pillars of central banking and financial regulation, which are coordinated through a unified governance structure and supported by shared corporate services1.
At a global level, the experience of recent years has vividly demonstrated that the stability of financial systems depends both on the effective regulation of financial institutions and markets and the capacity of central banks to detect and mitigate systemic financial risks through preventive macroprudential policies and pro-active liquidity support during stressed periods. This requires that financial regulators and central bankers work closely together.