Central Bank and Credit Institutions (Resolution) Bill 2011

Public bill · Government · Presented

The Bill would give the Central Bank powers to deal quickly with failing banks and other credit institutions, with the aim of protecting depositors, keeping essential banking services operating and limiting costs to the State and risks to the wider economy. It would create a fund financed mainly by contributions from credit institutions, allow assets and liabilities to be transferred to other banks or temporary “bridge banks”, and permit special managers to take control or oversee an orderly wind-down. It would also require some institutions to prepare recovery and resolution plans.

Formal long title

Bill entitled an Act to make provision for an effective and expeditious resolution regime for certain credit institutions at the least cost to the State; to amend certain enactments; and for related matters

Last updated 26 July 2018