Our Mission Statement 'Safeguarding Stability, Protecting Consumers' is at the heart of all that we do and encapsulates the dual priorities for the Central Bank in delivering on its mandate.
We are committed to being an independent, forthright and influential organisation with a compelling, clear and challenging vision of being 'Trusted by the Public, Respected by our Peers, Fulfilling Workplace for our People'.
Our Mission and Vision are central to our Strategic Plan and inform both what we do (our Strategic Responsibilities) and how we operate (our Strategic Enablers), each of which are set out in our Strategic Plan. Our Principles and Priority Behaviours define our culture and work practices.
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- Primacy of the Public Interest
- Working with Integrity and Transparency
- Respecting and Valuing Each Other as Colleagues
- Creating a Fulfilling and Progressive Work Environment
- Encouraging Vigorous Debate, Constructive Challenge and Effective Risk Mitigation
- Being Accountable for Our Performance
- Operating Effectively and Efficiently
- Collaborating and Working as a Team to Achieve our Goals
Our Priority Behaviours
- Challenge Constructively
- Deliver on Commitments
- Lead the Way Forward
- Collaborate and Share
- Develop Self and Others
- Initiate Improvements
Our High Level Goals
Eurosystem Effectiveness and Price Stability
The Central Bank is responsible for maintaining price stability through monetary policy formulation at Eurosystem level. We support the Governor in performing his role in relation to European Central Bank (ECB) monetary policy formulation and crisis resolution, and contribute to policy development and analysis across our wide range of Eurosystem commitments. We also implement both standard and non-standard monetary policies and operations on a decentralised basis. Read more in our Monetary Policy section.
Stability of the Financial System
Financial stability in Ireland and across the euro area remains a key priority for the Central Bank. In addition to the provision of liquidity, the analysis of the financial environment with particular focus on risks and vulnerabilities is used to inform policy makers. Specific projects areundertaken to build up data analytics and loan-loss forecasting capability. Read more in our Financial Stability section.
Proper and Effective Regulation of Financial Institutions and Markets
Regulation of institutions and markets is undertaken through assertive risk-based supervision which is underpinned by credible enforcement deterrents. Specific initiatives are implemented in the different sectors regulated by the Central Bank. Find out more about who we regulate or visit our Financial Regulation section.
Resolution of Financial Difficulties in Credit Institutions
In the effort to bring about sustained economic recovery in Ireland, embedding recovery and resolution plans in banks, credit unions and other financial institutions is vital. Stress-testing of institutions ensures that they have adequate capital to fulfill their capital adequacy requirements. Read more about our Credit Institutions section.
Protection of Consumers of Financial Services
Consumer protection strategic priorities have been identified which aim to strengthen and maintain protection for consumers, so that financial services work in the best interests of consumers both at the present time and in the future. Find out more in our Consumer Protection section.
Independent Economic Advice and High Quality Financial Statistics
Increasing the quality and relevance of economic analysis, research and financial statistics assists the provision of assessments and advice on domestic economic related issues for policy-makers, the media, the public and the markets. The Central Bank also contributes advice and analysis at EU, Eurosystem and EC-IMF-ECB levels. Read more in our Statistics section.
Efficient and Effective Payment and Settlement Systems and Currency Services
Our role in the operations and oversight of payment and securities settlement systems is aimed principally at ensuring that they are safe, resilient, efficient and effective and that access to such systems is not restricted. Currency services are also provided to the public. Find out more in our Payments Systems and Currency section.
Operational Efficiency and Cost Effectiveness
Efficiency and cost effectiveness will underpin all our operations. The Central Bank will strive to have the people, systems and structures in place to maximise our effectiveness. Cost control within our own operations and ensuring the optimum return on the Central Bank’s investment portfolio will be key considerations in our financial and planning processes. Our operations will also be conducted within well-defined risk management and control frameworks.
Our Strategic Plan
For a fuller explanation of our high level goals read Our Strategic Plan 2016 - 2018
- The Central Bank Reform Act 2010 created the new single unitary body, the Central Bank of Ireland, which replaced the previous related entities, the Central Bank and the Financial Services Authority of Ireland and the Financial Regulator. The Act commenced on 1 October 2010.