Government disappointed by Elderfield's resignation

The Government has expressed disappointment that the deputy Governor of the Central Bank is resigning.

Matthew Elderfield - who is head of financial regulation - is to return to the UK and pursue other interests.

He will remain in place for six months until a replacement is found and will not take a €100,000 bonus he is entitled to.

Finance Minister Michael Noonan said that he will be a loss to the Central Bank - sentiments echoed by Transport Minister Leo Varadkar:

"I think he did a very good job in the couple of years he was with us in helping to clean up some of the financial sector" he said

"I'm disappointed that he's going and I hope he does well in whatever job he takes up after"