## Ireland: Financial Sector Assessment Program-Technical Note on Banking Supervision

_IMF Staff Country Reports, July 27, 2022_

## Source details

**Canonical URL:** [Ireland: Financial Sector Assessment Program-Technical Note on Banking Supervision](https://www.imf.org/en/publications/cr/issues/2022/07/25/ireland-financial-sector-assessment-program-technical-note-on-banking-supervision-521272)

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## Bibliographic details
- Published: July 27, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400216275.002

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### Key findings
- Supervision of less significant institutions (LSIs) is largely effective in Ireland.
- The Central Bank’s supervisory approach to LSIs is intrusive and well-developed supervisory tools are appropriately applied.
- The prudential regulation of banks has improved greatly since the 2016 Financial System Assessment Program.
- The EU framework has largely managed to embrace international regulatory reforms, following up on the causes of the Global Financial Crisis.
- Banking supervision has been tested by severe headwinds, with the final outcomes still in play.
- Supervision faced major challenges from Brexit and the pandemic.

### Supervisory strengths
- Intrusive supervisory approach applied to LSIs.
- Well-developed supervisory tools that are appropriately applied to less significant institutions.
- Notable improvements in prudential regulation since 2016.

### Challenges and ongoing risks
- Continued effectiveness of banking supervision depends on resolving several complicated problems (unspecified in this summary).
- The full impact of severe headwinds remains unresolved ("final outcomes still in play").
- Recent systemic shocks cited include Brexit and COVID-19.

### Purpose and scope
- The Technical Note provides the main recommendations to enhance the supervision of the banking activities conducted in Ireland with a direct bearing on its financial stability.

### Publication metadata (excerpt from source)
- Pages: 61
- Volume: 2022
- Issue: 240
- Series: Country Report No. 2022/240
- DOI: https://doi.org/10.5089/9798400216275.002
- Stock No: 1IRLEA2022006
- ISBN: 9798400216275
- ISSN: 1934-7685

*Source: Ireland: Financial Sector Assessment Program-Technical Note on Banking Supervision, IMF Staff Country Reports 2022/240.*

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_Source: https://www.imf.org/en/publications/cr/issues/2022/07/25/ireland-financial-sector-assessment-program-technical-note-on-banking-supervision-521272_