European HQ for Banking Services
Many European banks have subsidiary or branch operations in Ireland and most offer services and products into Ireland on a cross-border basis. In general terms, see our 'Why Ireland' section under Insurance & Reinsurance here. In addition, major banks such as Bank of America, Barclay's Bank, Morgan Stanley and TD Securities have their European headquarters based in Dublin.
Jurisdiction of Choice for FVC Securitisation Vehicles
Ireland is also at the forefront of the European securitisation sector with the largest share of FVC assets in the euro area (23%) UK and US-based entities continue to sponsor a majority of Irish SPVs accounting for 30.5% and 24.7% respectively at the end of Q4-2019. Assets held by Irish SPVs as at Q4 2019 were €866.7bn, of which €478bn are held by FVCs. Asset Managers represented 41.8% of sponsors and Banks 31.3%.
Ireland – A New Jurisdiction of Choice for International Restructuring
There are a number of tools available under Irish law to restructure domestic and international businesses for the benefit of debtors, creditors and sponsors. Recent Irish cases have highlighted the effectiveness, flexibility and robustness of such tools and the strengths of Ireland as a jurisdiction in which to pursue complex international restructurings.
