The largest Bank, AIB, is currently still 99% state owned, and so, in theory, state controlled.  The Central Bank and the Financial regulator, previously asleep on the job, have been significantly revamped. The worst offenders - Anglo-Irish Bank and Irish Nationwide Building Society - have been shut down. Irish Nationwide's chief executive, Michael Fingleton is still being investigated by the Central Bank. David Drumm, former Anglo-Irish CEO has just been extradited from the USA to face trial here. Larger banks will in future be overseen by the ECB.  So some progress. I cannot comment on the adequacy of current prudential legislation as this is not a field I know a lot about.

Index of Frank's Diaries