Irish bonds outsourced
The Central Bank of Ireland and the National Treasury Management Agency of Ireland (NTMA) have announced that Euroclear will take over the settlement of Irish government bonds from the Central Bank. The move means financial institutions can settle domestic and cross border Irish government bonds in one place. The Central Bank will remain the registrar for Irish bonds when the handover to Euroclear goes ahead in a few months. The decision is in response to local fund managers moving out of Irish bonds.