The Central Bank of Ireland Reform Bill 2010 created a single unitary organisation – the Central Bank of Ireland – with responsibility for both central banking and financial regulation. The Bank is headed by a Commission, chaired by the Governor. The Governor is supported by a Head of Central Banking and a Head of Financial Regulation.
The new structure replaces the Central Bank and Financial Services Authority of Ireland (CBFSAI) with its two component entities – the Central Bank and Financial Regulator – each with its own particular set of responsibilities and each with its own specific governance structure. With effect from 1 March 2010, the CBFSAI’s statutory consumer information and education functions transferred to the National Consumer Agency.
The high level goals of the Central Bank of Ireland are:
Contribute to Eurosystem effectiveness and price stability
We are responsible for maintaining price stability through monetary policy formulation at ECB level. We aim to enhance the effectiveness of our participation in monetary policy formulation through the provision of quality briefing for the Governor on Governing Council issues, while recognising that the Governor is solely responsible as a member of the Governing Council. We are also responsible for the effective implementation of monetary policy.
Visit our Monetary Policy and Eurosystem section
Contribute to financial stability
We have a legal mandate, in both domestic legislation and under the Maastricht treaty, to contribute to financial stability both in Ireland and across the euro area. A key focus in the period ahead is to play our part in the resolution of the financial crisis. This includes monitoring overall liquidity for the banking system.
Visit our Financial Stability section
Ensure proper and effective regulation of financial institutions and markets
The objective is to minimise the risk of failure by ensuring compliance with prudential and other requirements. However, a new approach to supervision is needed, focusing on a risk based approach supported by open and challenging dialogue with firms by assertive staff, underpinned by a credible threat of enforcement. The purpose of securities market regulation is to promote an efficient and fair securities market.
Who We Regulate
Ensure that the best interests of consumers of financial services are protected
The objective is to protect customers and investors through conduct of business rules and other measures.
Visit our Consumer Protection section
Provide independent economic advice and high quality financial statistics
We also contribute to economic development by undertaking economic analysis and research designed to inform economic policy making across a range of areas. A key priority is to provide authoritative economic advice to Government by ensuring that such advice is relevant and timely. The provision of high-quality and timely statistical information is essential for this and also to provide a solid basis for decisions.
Visit our Statistics Section
Ensure efficient financial services infrastructure to the economy: payment and currency
Our oversight of payment systems role is aimed principally at ensuring that payment and securities settlement systems are safe, effective and efficient and that access to such systems is not restricted. We will play a strong role in the development of a National Payments Strategy. With regard to our currency services, we manufacture, issue, store, process and authenticate bank notes and coins.
Visit our Notes and Coin section
Maximise our operational efficiency and cost effectiveness
We will ensure that the organisation has the capability to deliver the key challenges set out in our Strategic Plan and that our operations are carried out in an effective and efficient manner.
For a fuller explanation of high level goals, please read our 
Strategic Plan for 2010-2012
The Central Bank of Ireland was originally established in 1943. View a chronology of the Organisation’s history over the period 1943-2003 here.