Menu
02/03/2011
Draft Bank Resolution Legislation Published
The Government has on Tuesday published draft legislation fulfilling a commitment made as part of the EU – IMF financial assistance package.
The bill, entitled the Central Bank and Credit Institutions (Resolution) Bill 2011, has been laid before the Oireachtas.
The new proposed legislation provides for a special "resolution regime" for banks and will give the Governor of the Central Bank certain powers to intervene in the affairs of banks and credit unions.
The 31st Dáil will convene on the 9th of March. The session will see the election of a new Taoiseach and the putting in place of a new Government.
A timetable for the enactment of the proposed legislation will be a matter for the next Dáil.
Meanwhile, a rise in interest rates and a further weakening of the euro are on the cards according to the latest market forecast from Ulster Bank.
According to the forecast, our record low interest rates could come to an end within six months, with the ECB expected to begin gradual hikes of 0.25%
The forecast from Ulster Bank also says the euro could be vulnerable if the Europe-wide debt crisis continues to intensify, but the bank's chief economist Simon Barry says this would not be a bad thing for Irish exporters.
(DW)
The bill, entitled the Central Bank and Credit Institutions (Resolution) Bill 2011, has been laid before the Oireachtas.
The new proposed legislation provides for a special "resolution regime" for banks and will give the Governor of the Central Bank certain powers to intervene in the affairs of banks and credit unions.
The 31st Dáil will convene on the 9th of March. The session will see the election of a new Taoiseach and the putting in place of a new Government.
A timetable for the enactment of the proposed legislation will be a matter for the next Dáil.
Meanwhile, a rise in interest rates and a further weakening of the euro are on the cards according to the latest market forecast from Ulster Bank.
According to the forecast, our record low interest rates could come to an end within six months, with the ECB expected to begin gradual hikes of 0.25%
The forecast from Ulster Bank also says the euro could be vulnerable if the Europe-wide debt crisis continues to intensify, but the bank's chief economist Simon Barry says this would not be a bad thing for Irish exporters.
(DW)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
29 May 2018
Ulster Bank Announce New Vertical Bank Notes
Ulster Bank has announced the introduction of two new vertical polymer banknotes, which will enter circulation in 2019. The new £5 and £10 notes are based on the theme 'living in nature' and will feature Strangford Lough, Brent geese, Lough Erne, the Irish hare and Guelder-rose shrubs.
Ulster Bank Announce New Vertical Bank Notes
Ulster Bank has announced the introduction of two new vertical polymer banknotes, which will enter circulation in 2019. The new £5 and £10 notes are based on the theme 'living in nature' and will feature Strangford Lough, Brent geese, Lough Erne, the Irish hare and Guelder-rose shrubs.
06 October 2009
Central Bank Forecast Improves
The Central Bank in Dublin has revised its forecast for the economy, predicting a smaller 'shrinkage' than first thought. The bank says that although a lot of uncertainty remains, the figures suggest the worst of the recession may have passed. Publishing its latest quarterly economic bulletin, the Central Bank said the economy would shrink by 7.
Central Bank Forecast Improves
The Central Bank in Dublin has revised its forecast for the economy, predicting a smaller 'shrinkage' than first thought. The bank says that although a lot of uncertainty remains, the figures suggest the worst of the recession may have passed. Publishing its latest quarterly economic bulletin, the Central Bank said the economy would shrink by 7.
25 May 2011
Central Bank Publication Looks At Levy Arrangments
The Minister for Finance has published the Central Bank and Credit Institutions Bill.
Central Bank Publication Looks At Levy Arrangments
The Minister for Finance has published the Central Bank and Credit Institutions Bill.
27 August 2010
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.
08 November 2002
Northern Bank posts record annual results
The annual results from the Northern Bank have revealed pre-tax profits of £111m up 13% on the previous corresponding year-end figures. The results include a £19.9m profit in relation to the disposal of subsidiary company Northern Bank Insurance Services to Wealth Management Europe Holdings another subsidiary of National Australia Bank.
Northern Bank posts record annual results
The annual results from the Northern Bank have revealed pre-tax profits of £111m up 13% on the previous corresponding year-end figures. The results include a £19.9m profit in relation to the disposal of subsidiary company Northern Bank Insurance Services to Wealth Management Europe Holdings another subsidiary of National Australia Bank.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
