Financial Stability and Reform Bill 2013

Abstract

The purposes of this Bill is to create a situation of stability within the Irish banking sector by creating a series of regulatory limitations on the activities of banks via a series of ring-fencing rules and capital requirements. The Bill also looks to expand the capabilities of the Central Bank of Ireland by requesting that it undertake a study to see how a so-called Volcker Rule could be applied to the Irish banking environment.This Bill draws from US and UK models of financial regulatory reform following the Global Financial Crisis, the effects of which are still be felt by national governments.