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25/05/2011
Central Bank Publication Looks At Levy Arrangments
The Minister for Finance has published the Central Bank and Credit Institutions Bill.
The Bill implements the commitment in the Programme for Government to introduce a comprehensive special resolution regime for dealing with bank insolvencies and provides the framework for the introduction of a bank levy, which is also a Programme for Government commitment.
The Minister of Finance, Michael Nooan said: "The publication of the Bill is an important step in ensuring that the Central Bank has the appropriate powers to promptly and effectively resolve distressed instructions e.g. when they pose a risk to financial stability.
"The purpose of the Bill is to provide for a 'main stream' long term special resolution regime for credit institutions in the State.
"I am preparing committee stage amendments to the Bill, which are designed to enhance the resolution toolset in line with the evolving EU principles on crisis resolution and in the light of discussions with the external partners."
(BMcN/BMcC)
The Bill implements the commitment in the Programme for Government to introduce a comprehensive special resolution regime for dealing with bank insolvencies and provides the framework for the introduction of a bank levy, which is also a Programme for Government commitment.
The Minister of Finance, Michael Nooan said: "The publication of the Bill is an important step in ensuring that the Central Bank has the appropriate powers to promptly and effectively resolve distressed instructions e.g. when they pose a risk to financial stability.
"The purpose of the Bill is to provide for a 'main stream' long term special resolution regime for credit institutions in the State.
"I am preparing committee stage amendments to the Bill, which are designed to enhance the resolution toolset in line with the evolving EU principles on crisis resolution and in the light of discussions with the external partners."
(BMcN/BMcC)
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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.
20 December 2010
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Euro Bank 'Serious Concerns' Over Finance Bill
The European Central Bank (ECB) has warned of "serious concerns" over legislation from the Finance Minister that will provide sweeping powers over the banking sector. A number of controversial measures have been included in the bill, leading to widespread concern that Brian Lenihan's legislation goes too far.
22 July 2010
PADs Speeds Up Special School Scheme
Robin Newton, East Belfast DUP MLA , has welcomed the good news regarding Tor Bank Special School and its new build programme. Robin Newton said the Planning Service had turned around plans for Tor Bank Special schools in the Dundonald area in just four and a half months due to the Pre Applications Discussions (PADs) process.
PADs Speeds Up Special School Scheme
Robin Newton, East Belfast DUP MLA , has welcomed the good news regarding Tor Bank Special School and its new build programme. Robin Newton said the Planning Service had turned around plans for Tor Bank Special schools in the Dundonald area in just four and a half months due to the Pre Applications Discussions (PADs) process.
21 October 2011
Ulster Banks On Belfast Spar Success
Despite austere times, 10 jobs have been created following the opening of a retail outlet on the site of a formerly vacant property in the heart of Belfast city centre. The Spar store on Royal Avenue, has been refurbished with a substantial investment by owner and manager Declan McGonigle with the support of the Ulster Bank.
Ulster Banks On Belfast Spar Success
Despite austere times, 10 jobs have been created following the opening of a retail outlet on the site of a formerly vacant property in the heart of Belfast city centre. The Spar store on Royal Avenue, has been refurbished with a substantial investment by owner and manager Declan McGonigle with the support of the Ulster Bank.
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.
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Northern Ireland WeatherThis Evening and Tonight:Continuing cloudy through the evening with further outbreaks of rain, the rain turning lighter and patchier from the south as the night progresses. Winds remain light. Minimum temperature 8 °C.
