ICB supervisor to advise Noonan

Dublin: John Moran, the Irish Central Bank’s (ICB) head of wholesale bank supervision, has been temporarily transferred to the Department of Finance to advise on shrinking the balance sheets of debt-laden lenders.

Moran joined the Dublin- based central bank in July, to lead a review on how Irish banks, heavily reliant on central bank funding, will be deleveraged.

Moran, 44, will help the Department “deal with the bank restructuring agenda and various associated issues,” according to an internal memo circulated in the ministry this week.

As part of its €85bn bailout in November, Ireland agreed to shrink the country’s banks by selling assets. The so-called viable lenders, & need to cut their loan- to-deposit ratios to 123% from 170%, according to Finance Minister Michael Noonan.