This site uses cookies to improve your experience and to provide services and advertising. By continuing to browse, you agree to the use of cookies described in our Cookies Policy. You may change your settings at any time but this may impact on the functionality of the site. To learn more see our Cookies Policy.
OK
Dublin: 5 °C Wednesday 11 December, 2019
Advertisement

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.

The IFSC in Dublin. (File photo)
The IFSC in Dublin. (File photo)
Image: Niall Carson/PA Archive/Press Association Images

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.

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

  • Share on Facebook
  • Email this article
  •  

About the author:

Hugh O'Connell

Read next:

COMMENTS (1)