Central Bank of Ireland

The Central Bank of Ireland (CBI) is the central bank of the Republic of Ireland, responsible for the regulation and supervision of financial institutions, as well as the management of the country’s currency and monetary policy. The bank was established in 1943, and is headquartered in Dublin. The CBI is independent in the exercise of its functions and is accountable to the Irish parliament.

The CBI has a mandate to maintain price stability in the country and to support the government’s economic policies. It sets monetary policy by setting interest rates and controlling the money supply, in order to achieve its inflation target. The bank also monitors economic developments and provides regular reports and assessments to the Irish government and the European Central Bank (ECB).

The CBI is also responsible for the regulation and supervision of financial institutions in Ireland, including banks, insurance companies and pension funds. The bank has a mandate to ensure the stability and integrity of the financial system, to protect consumers, and to promote competition in the financial sector. The CBI also works closely with the ECB and other European regulators to ensure that the Irish financial system is in line with EU regulations.

The CBI also plays an important role in the management of the country’s currency. The bank issues and manages the Irish pound and Euro, which is the country’s official currency since 1999. The CBI is also responsible for the security and integrity of the country’s currency and works to combat counterfeiting and fraud.

The CBI is governed by a board of directors, which is composed of a Governor, who is appointed by the President of Ireland, and two deputy governors, who are also appointed by the President. The governor and the deputy governors are appointed for a term of seven years, and are subject to reappointment. The board is responsible for the overall direction and management of the bank.

Overall, the Central Bank of Ireland (CBI) is a key institution in the country, responsible for the regulation and supervision of financial institutions, the management of the country’s currency and monetary policy, as well as for maintaining price stability. The bank is independent and accountable to the Irish parliament, and works closely with the European Central Bank and other European regulators to ensure the stability and integrity of the Irish financial system and in line with EU regulations.

Content updated 1/25/23

Back to World Mints