In Saturday’s Ardfheis speech, the Taoiseach announced:
I will create a new central banking commission. This will incorporate both the responsibilities of the Central Bank and the supervision and regulatory functions of the Financial Regulator. This will build on best international practice similar to the Canadian model. And it will provide a seamless powerful organization with independent responsibility. It will have new powers for ensuring the financial health, stability and supervision of the banking and financial sector.
I interpreted this statement as implying that Canada has something called “a central banking commission” which incorporates both central banking and financial supervision. It turns out, however, that Canada does not have such a structure.