Central Bank of Ireland named Central Bank of the Year

From: Press Office CentralBank [mailtoress@centralbank.ie]
Sent: 14 January 2016 09:20
Subject: Central Bank of Ireland named Central Bank of the Year



Central Bank of Ireland named Central Bank of the Year

· Centralbanking.com selects Central Bank of Ireland as 2015 winner

· Award recognises fulfilment of mandate and Central Bank role in supervision

· An important recognition for the staff of the Bank by its peers, says Governor Lane

14 January 2016: The Central Bank of Ireland has been named ‘Central Bank of the Year’ by the Central Banking publications Central Banking Journal and centralbanking.com.

The award recognises a central bank that has demonstrated significant resolve and authority in fulfilling its mandate. Central Banking Journal said 2015 was a year that marked the restoration of the central bank’s credibility among its peers as a forward-thinking and strong institution, particularly in the area of supervision. The panel took into account “The authority and integrity of the Central Bank, against criteria including the fulfilment of mandate details of pioneering policy efforts, and powerful communication supporting the central bank's position”.

The award is made by the Advisory Board of Central Banking comprising former senior central bank governors from around the world.

Commenting on the award, Governor Philip Lane said: “It is an honour for the Central Bank of Ireland to receive this award and an important recognition by our peers of the contribution by the Central Bank, in Ireland and within the eurosystem. The staff has a strong drive to deliver on commitments, and tirelessly works towards the overall mission of the organisation”.

The panel recognised that the introduction of the residential mortgage lending rules last year.

Lane added, “The Bank remains vigilant and willing to take macroprudential measures to fulfil its mandate of ‘protecting stability and protecting consumers’. Now that we have the appropriate toolkit in place to protect financial stability, I believe the willingness of the Central Bank to intervene in a structural and proportionate manner is evident and clearly demonstrates the Bank has undergone a transformation since the financial crisis.”

Looking ahead Governor Lane cited the importance of Ireland building up financial and fiscal buffers to guard against future shocks. On the prospects of a European recovery, he said that he supported the continuing efforts of the Governing Council to deploy non-standard measures in fulfilling its price stability mandate. Looking beyond the euro area, he said “developments in emerging economies should be monitored closely, given their importance in determining global output and their growing impact on the global financial system.”

An awards ceremony will be held in London on 3 March 2016, when Governor Lane will accept the award on behalf of the Bank.

Further information: Press Office, press@centralbank.ie, 01-2246299

Notes to Editor

The Central Banking press release can be found [broken link removed].

Other noteworthy highlights of 2015 include:

· Leading the recently started SSM-wide work on banks with a high proportion of non-performing loans, based on the effective approach designed by the Central Bank for Irish banks.

· Conducting IT and cyber risk inspections across swathes of the regulated financial sector.

· Participating in the Financial Stability Board’s Global Shadow Banking Monitoring report for the first time. The Central Bank's granular approach to reporting requirements for Irish-domiciled investment vehicles puts it at the forefront of its peers and will contribute to enhancing transparency and understanding of these activities.

Additional information on the progress made to deliver on the Central Bank’s mandate is available in the [broken link removed].

The accidental smileyisation of the email address says it all

It's all in the emoticon

What did they win...best Central Bank in Ireland?

"Well, Homer, I guess that makes you the winner by default..."
"Default? The two sweetest words in the English language! De-FAULT! De-FAULT! De-FAULT!"

Does BB have a sense of humour, this is one of the central mysteries of AAM.

If he does, it is usually kept well in check, as would be expected of a person in the serious business of consumer champion, but occasionally there is an glimpse of an elusive dry wit, and emoticon here, an over-emphasis there, that might indicate suppressed laughter.

Today's post however seemed to finally unmask the real BB. A good laugh laid on for us all to enjoy. The mystery is solved BB does indeed have a sense of humour.

But it's all true, funny or not, the Central Bank of Ireland did win an award as Central Bank of the year.

So the mystery goes on, BB honest reporter of the facts ? or leg pulling joker ?

Best Central Bank in the World, not Ireland!!!
From Zero to Hero in 8 short years

cremeegg said:

Does BB have a sense of humour, this is one of the central mysteries of AAM.

Click to expand...

All I did was to post the Central Bank's press release. I checked the date to make sure it wasn't 1 April. Then I thought that the way xenForo converts the very very funny

Central Banks admire other Central Banks that can deal with situations that are almost impossible.
I note that the Residential Housing restrictions was one of the backslapping moments.
The restrictions are fine if we had enough housing - but we don't - essentially then a 'one-part' solution but not exactly telling the State "FACILITATE the building of more Houses at low cost will ya"

Governor Philip Lane Quote {protecting stability and protecting consumers}

1. Banking collapse = consumers pay.
2. Quinn insurance collapse= consumers pay.
3. Standard Variable Rates = consumers pay.
4. PPI ,Payment protection Insurance of 2.1 Billion = consumers don,t get repaid.

On 1 & 2 & 3 & 4 , I readily accept the (stability) part = protect Banks , but how dare he pretend {protect consumer}

His other friendly chappies in Central Banks would praise our incompetents, wouldn,t they !