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The Financial Regulator was established on 1 May 2003 following a government decision to set up the Central Bank of Ireland as the Central Bank and Financial Services Authority of Ireland. The structure combines two distinct component entities – the Central Bank and the Financial Regulator – each with its own particular set of responsibilities and each with its own specific governance structure.
The Central Bank’s responsibilties include surveillance of the strengths and vulnerabilities of the overall economy and financial system.
The Financial Regulator’s remit includes monitoring the financial soundness of individual institutions, in addition to wide-ranging consumer protection powers.
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