## Ireland: Financial Sector Assessment Program: Technical Note-Banking Supervision and Update on the Assessment of Observance of the Basel Core Principles

_IMF Staff Country Reports, September 29, 2016_

## Source details

**Canonical URL:** [Ireland: Financial Sector Assessment Program: Technical Note-Banking Supervision and Update on the Assessment of Observance of the Basel Core Principles](https://www.imf.org/en/publications/cr/issues/2016/12/31/ireland-financial-sector-assessment-program-technical-note-banking-supervision-and-update-on-44311)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/ireland-financial-sector-assessment-program-technical-note-banking-supervision-and-update-on-44311/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/ireland-financial-sector-assessment-program-technical-note-banking-supervision-and-update-on-44311/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/ireland-financial-sector-assessment-program-technical-note-banking-supervision-and-update-on-44311/bundle-manifest.json)

## Bibliographic details
- Published: September 29, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475542288.002

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### Summary and key findings
- The Technical Note discusses findings and recommendations from the Financial Sector Assessment Program for Ireland in the areas of banking supervision and observance of the Basel core principles.
- The effective operational implementation of the Single Supervisory Mechanism (SSM) is well established in Ireland.
- All authorities are actively engaged and committed to the new supervisory framework led by the European Central Bank.
- The SSM has further strengthened the prudential regulation and supervision of banks since the time of the 2013 assessment.
- The transition to the operational implementation of the SSM has not resulted in major gaps in banking supervision, but some transitional challenges remain.

### Policy implications and recommendations (implicit in assessment)
- Continue coordinated engagement among national authorities and the European Central Bank to address remaining transitional challenges in supervisory operations.
- Maintain and build on strengthened prudential regulation and supervisory practices introduced under the SSM since 2013.
- Monitor implementation progress to ensure no emergence of gaps in banking supervision as the SSM framework evolves.

### Subjects and technical terms covered
- Bank supervision
- Banking
- Basel Core Principles
- Credit
- Credit risk
- Financial regulation and supervision
- Money
- Operational risk

Keywords:
- Bank supervision
- banking supervision
- Basel Core Principles
- Central Bank enforcement authority
- Central Bank post-banking crisis
- Central Bank staff
- CR
- Credit
- Credit risk
- ECB guideline
- ECB harmonization exercise
- ECB harmonization exercises advance
- ECB oversight
- ECB regulation
- Europe
- inspection team
- ISCR
- Operational risk

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## Content in this bundle

- **IMF staff report — Ireland FSAP Update**
  - [IMF staff report — Ireland FSAP Update (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2016/_cr16318.pdf.md){rel="alternate" type="text/markdown"}
  - [IMF staff report — Ireland FSAP Update (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2016/_cr16318.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/ireland-financial-sector-assessment-program-technical-note-banking-supervision-and-update-on-44311_