IMF Staff Country Reports

Ireland: Financial Sector Assessment Program-Technical Note on Oversight of Market-Based Finance: Investment Funds and Special Purpose Entities

Publication Date:

July 27, 2022

Electronic Access:

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Summary:

This technical note considers the regulation and supervision of the market-based finance (MBF) sector in Ireland. The Irish MBF sector is dominated by investment funds (IFs), including money market funds (MMFs), while special purpose entities (SPEs) continue to represent a sizeable proportion of assets. Reflecting Ireland’s position more broadly as an open and internationally oriented economy, the MBF sector generally holds non-Irish assets on behalf of non-Irish investors, although domestic interlinkages exist primarily through property funds. This combination makes the sector important from a financial stability perspective both within Ireland and globally, and underlines the importance of robust regulatory oversight and a strategic approach to managing the interaction of domestic and international financial stability objectives.

Series:

Country Report No. 2022/242

Subject:

Asset and liability management Financial institutions Financial sector policy and analysis Financial sector stability International organization Monetary policy Mutual funds Special purpose vehicle Stress testing

Frequency:

regular