IFSC whistleblowers reporting financial firms to Cental Bank

The allegations centre on certain banks’ funding falling below minimum levels of liquidity that they are required to have in order to operate.

SEVERAL EMPLOYEES of banks based at the International Financial Services Centre (IFSC) in Dublin have reported possible undisclosed breaches of liquidity arrangements in their financial institutions.

The Sunday Business Post reports that several officials at the Central Bank have met with the whistleblowers and taken statement. While no investigations are underway at this point, the information is being assessed by bank officials, the paper adds.

The latest development comes just says after the Financial Regulator fined Scotia Bank Ireland, which is based in the IFSC, €600,000 for allowing its funding to fall below the minimum levels of liquidity – the amount the bank must hold in reserve – that are required.

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IFSC whistleblowers reporting financial firms to Cental Bank

Read more from Jon Ihle in today’s Sunday Business Post (print edition) >

Making a difference

A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.