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Market-based finance: Ireland as a host for international financial intermediation

Author

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  • Philip R. LANE
  • Kitty MOLONEY

Abstract

Ireland is a significant host location for the international intermediation of market-based finance, especially through investment funds and special purpose entities. From an Irish perspective, this intermediation essentially matches foreign assets and foreign liabilities, with few linkages to the domestic financial system. Still, although the ultimate risks lie elsewhere, the Central Bank of Ireland monitors the sector in view of its role in the financial systems of the euro area and the global economy. Much has been achieved in recent years to increase transparency and quantify risk but serious measurement challenges remain at a global level.

Suggested Citation

  • Philip R. LANE & Kitty MOLONEY, 2018. "Market-based finance: Ireland as a host for international financial intermediation," Financial Stability Review, Banque de France, issue 22, pages 63-72, April.
    • Handle: RePEc:bfr:fisrev:2018:22:6
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    Citations

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    Cited by:

    1. Benedetta Bianchi & Giovanna Bua, 2020. "Foreign exchange derivatives and currency mismatch in Irish investment funds," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Bridging measurement challenges and analytical needs of external statistics: evolution or revolution?, volume 52, Bank for International Settlements.
    2. Gianstefani, Ilaria & Metadjer, Naoise & Moloney, Kitty, 2023. "Interest Rate Sensitivity of Irish Bond Funds," Financial Stability Notes 10/FS/23, Central Bank of Ireland.
    3. Gaffney, Edward & McGeever, Niall, 2022. "The SME-lender relationship network in Ireland," Financial Stability Notes 14/FS/22, Central Bank of Ireland.
    4. Fiedor, Paweł & Killeen, Neill, 2021. "Securitisation special purpose entities, bank sponsors and derivatives," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
    5. Fiedor, Pawel & Killeen, Neill, 2019. "Securitisation special purpose entities' use of derivatives: New evidence from Ireland," Financial Stability Notes 3/FS/19, Central Bank of Ireland.
    6. Ronald B. Davies & Neill Killeen, 2018. "The Effect of Tax Treaties on Market Based Finance: Evidence using Firm-Level Data," Working Papers 201818, School of Economics, University College Dublin.
    7. Galstyan, Vahagn, 2019. "Estimates of Foreign Assets and Liabilities for Ireland," Research Technical Papers 3/RT/19, Central Bank of Ireland.
    8. Galstyan, Vahagn & Maqui, Eduardo & McQuade, Peter, 2021. "International debt and special purpose entities: Evidence from Ireland," Journal of International Money and Finance, Elsevier, vol. 115(C).
    9. Philip R. Lane, 2019. "Globalisation: A Macro-Financial Perspective," The Economic and Social Review, Economic and Social Studies, vol. 50(2), pages 249-263.
    10. Bianchi, Benedetta & Galstyan, Vahagn & Herzberg, Valerie, 2022. "Global risk and portfolio flows to emerging markets: Evidence from irish-resident investment funds," Journal of International Money and Finance, Elsevier, vol. 123(C).
    11. Fiedor, Pawel & Katsoulis, Petros, 2019. "An Lonn Dubh: A Framework for Macroprudential Stress Testing of Investment Funds," Financial Stability Notes 2/FS/19, Central Bank of Ireland.

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