IBRC ‘not compliant’ with bank rules

The Irish Bank Resolution Corporation (IBRC) is not compliant with the Central Bank’s regulatory requirements needed for a banking licence, although it is not expected that it will have any implications for its operating model.

The fact was disclosed in the Central Bank’s interim report, released last June.

Finance Minister Michael Noonan, confirmed that IBRC is still not meeting these requirements in response to a parliamentary question posed by Sinn Féin’s Pearse Doherty this week.