The Central Bank has published an FAQ document on the bank and investment firm resolution fund levy dealing with the following issues:
- What is the Bank Recovery and Resolution Directive (BRRD)?
- How has the BRRD been implemented in Ireland?
- What is the Single Resolution Mechanism?
- What is the Bank and Investment Firm Resolution Fund?
- Is this the first time that institutions are contributing to a fund?
- Why are banks and investment firms being levied now? and
- Why is this additional levy needed?