Regulatory News

75th Anniversary Marked with Programme of Public Events

1 Feb 2018 Press Release

Central Bank of Ireland

  • Public programme will highlight 75 Years of Public Service since 1 February 1943.
  •  Series of events planned during the year aimed at improving public understanding of the role of the Central Bank.
  • Events include new exhibition in the Central Bank’s Visitor Centre, Schools’ Art Competition, Symposium on Financial Globalisation, short documentary video and more. All events can be followed under #centralbank75.

The Central Bank of Ireland has
launched a programme of events to mark the 75th anniversary of its
foundation on 1 February 1943. Under the theme of ’75 Years of Public Service’,
the programme is focused on improving public understanding of the
mandate and role of the Central Bank.

The public programme begins today
with the launch of a schools’ art competition, followed by a symposium
of financial globalisation
taking place on Friday 2nd February,
which will include a keynote address by the Governor of the Banque de France, François Villeroy de Galhau, and
contributions from other international experts.

The Central Bank will also launch
a new exhibition in its Visitor
, which will be available for schools and other groups to book
visits. The Central Bank will also be sending educational posters
to every school in the country, to explain to students the role and work of the
Central Bank in serving the public.

Over the last 75 years, the Central Bank’s role has
developed in several crucial respects, as set out in the Central Bank’s short documentary video including:

Assuming custodianship of the Irish pound from
the Currency Commission, with a remit to “safeguard the integrity of the
currency” upon foundation in 1943.

  • Implementing decimalisation in 1971.
  • Beginning the first steps towards Irish economic integration in Europe, upon Ireland’s entry to the EEC in 1973.
  • Making the critical step in 1979 of ending the parity of the Irish pound with the pound sterling.
  • Successfully implementing the Government’s decision to join the euro, and issuing euro banknotes and coins for the first time in 2002.
  • Implementing changes following the financial crisis, adopting new structures, approaches and adapting to changes in its mandate to evolve into a modern, effective and responsive institution. This includes new approaches to supervision, enforcement and financial stability.

The Central Bank continues to
learn from best practice and from its international peers, and has taken major
steps in recent years to promote financial stability, protect consumers, become
more transparent and accountable. This has led to the
Bank being recognised
this week for its work to enhance and build public

Speaking at the launch of the 75th
Anniversary Programme, Governor Philip R. Lane said:

Today marks the 75th
anniversary of the foundation of the Central Bank of Ireland. Reflecting the
theme of ’75 years of public service’, it is an opportunity for the Central
Bank to not only commemorate our contribution throughout that time, but to
increase awareness and understanding of what we do amongst those we serve. Our
programme of events is focused on
improving public understanding of the
mandate and role of the Central Bank, and recognising our staff past and

The Central Bank has faced many challenges since its
foundation.  As we continue to develop as a modern and progressive
organisation, it is vital that we remain flexible and agile in dealing with the
challenges of the current era.

We remain vigilant and pro-active in the pursuit of our
objectives to safeguard financial stability and protect consumers.”

Original Article Here

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