Written answers
Tuesday, 8 July 2025
Department of Finance
Banking Sector
Carol Nolan (Offaly, Independent)
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332. To ask the Minister for Finance to clarify the level of engagement his Department has with the Bank of International Settlements; and if he will make a statement on the matter. [37381/25]
Paschal Donohoe (Dublin Central, Fine Gael)
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As the Bank for International Settlements (BIS) serves central banks rather than the Department of Finance, the Central Bank of Ireland has provided me with the following information in relation to engagement with the BIS.
The BIS is a forum for discussion and cooperation among central banks and other financial authorities in the pursuit of monetary and financial stability.
The BIS hold meetings for governors and other senior officials of BIS member central banks on a bimonthly basis, to discuss current developments and the outlook for the world economy and financial markets.
Governor Makhlouf attends both bimonthly meetings below:
The Global Economy Meeting (GEM) monitors and assesses developments in the world economy and the global financial system. The membership comprises the governors of 30 BIS member central banks in major advanced and emerging market economies that account for about four fifths of global GDP. The Governors of another 22 central banks attend the GEM as observers (including the Central Bank of Ireland).
The All Governors' Meeting comprises the Governors of the 63 BIS member central banks. They exchange views and experiences on issues of interest to central banks.
Marcella Flood, the Chief Operations Officer of the Central Bank of Ireland, also chairs the Chief Operations Officer’s Network at the BIS. This network focuses on discussing operational matters of mutual interest, such as cost optimization, technological advancements, and resource allocation
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