The Central Bank of Ireland has published its Annual Report and Annual Performance Statement for 2024, setting out the Bank’s delivery over the year and outlining a refreshed strategy focused on actions planned over the next three years. The report highlights organisational and supervisory changes intended to strengthen how the Bank responds to sectoral risks and consumer protection objectives. Key developments described include changes to the Fitness and Probity regime, including the creation of a dedicated Fitness and Probity team following a review by Andrea Enria. The Bank also introduced macroprudential measures for GBP liability-driven investment funds and published a feedback statement on its discussion paper on an approach to macroprudential policy for investment funds. Other actions covered include launching an innovation sandbox focused on combatting financial crime, enhancing data and statistics capabilities through a new Frontier Statistics series, contributing to Ireland’s National Payment Strategy and to Eurosystem work during the preparation phase for the Digital Euro project, and integrating climate risks into supervisory tools, including publication of a Flood Protection Gap Report. The report also notes continued preparations to implement cross-sectoral EU legislation such as the Markets in Crypto-Assets Regulation, the Digital Operational Resilience Act and the EU Artificial Intelligence Act, alongside implementation of the Individual Accountability Framework and completion of the Bank’s review of the Consumer Protection Code.

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