Cover IMF Staff Country Reports
Ireland: Financial Sector Assessment Program-Technical Note on Oversight of Market-Based Finance: Investment Funds and Special Purpose Entities
Author:
International Monetary Fund. Monetary and Capital Markets Department
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2022: Issue 242
Language:
English
Publication Date:
27 Jul 2022
DOI:
https://doi.org/10.5089/9798400216541.002
ISBN:
9798400216541
ISSN:
1934-7685
Pages:
43
Keywords:
central bank of Ireland; investment fund Aum; SPE governance; MARKET-BASED finance; MBF sector; market structure; supervisory tools pyramid; Mutual funds; Financial sector stability; Special purpose vehicle; Stress testing; Global
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This technical note considers the regulation and supervision of the market-based finance (MBF) sector in Ireland. The Irish MBF sector is dominated by investment funds (IFs), including money market funds (MMFs), while special purpose entities (SPEs) continue to represent a sizeable proportion of assets. Reflecting Ireland’s position more broadly as an open and internationally oriented economy, the MBF sector generally holds non-Irish assets on behalf of non-Irish investors, although domestic interlinkages exist primarily through property funds. This combination makes the sector important from a financial stability perspective both within Ireland and globally, and underlines the importance of robust regulatory oversight and a strategic approach to managing the interaction of domestic and international financial stability objectives.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2022: Issue 242