A third of Ireland’s shadow banking subject to little or no oversight

Central Bank in struggle to understand world’s fourth-largest shadow banking hub

Almost a third of Ireland’s shadow banking universe is subject to little or no regulation, although regulators have been making inroads in recent years to work out what’s going on

Almost a third of Ireland’s shadow banking universe is subject to little or no regulation, although regulators have been making inroads in recent years to work out what’s going on

Just when the Central Bank thought it had a greater understanding of Ireland’s so-called shadow banking centre in the IFSC in Dublin, the hole just got bigger.

A report published on Wednesday by the Swiss-based Financial Stability Board – which was established in 2009 under efforts to avoid a repeat of the global financial crisis – into financial activities that take place outside of traditional banking shows that Ireland is home to $2.2 trillion (€2 trillion) of global shadow banking assets.

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