LAW30010 Banking Law Assignment Sample Ireland

The Central Bank of Ireland is the main regulator of the banking sector in Ireland. Pursuant to the Central Bank of Ireland Act 1942, as amended, the Central Bank has extensive powers with respect to banks and other credit institutions.

The Central Bank has a number of functions in relation to the regulation of banks, including:

• Regulating the conduct of banks and other credit institutions;
• Supervising and regulating financial reporting by banks and other credit institutions;
• Prescribing capital adequacy requirements for banks and other credit institutions;
• Implementing monetary policy measures; and
• Issuing directives (or “guidelines”) to banks and other credit institutions on a wide range of matters.

Buy Assignment Sample of LAW30010 Banking Law Module

In this module, there are many types of assignments given to students like individual assignments, group-based assignments, reports, case studies, final year projects, skills demonstrations, learner records, and other solutions given by us. We also provide Group Project Presentations for Irish students.

In this section, we are describing some tasks. These are:

Assignment Task 1: The fundamental terms of the contract between banker and customer.

The fundamental terms of the contract between banker and customer are typically the following:

• The customer agrees to deposit money with the bank.
• The bank agrees to hold the deposited money for the customer.
• The bank agrees to pay interest on the deposited money.
• The customer agrees to not withdraw all of their deposited money at once (known as a “run on the bank”).

In addition, the terms of a bank deposit may also include certain conditions that must be met in order for the customer to receive their deposited money back (e.g., if the deposited money is used to finance a loan, the customer may be required to repay the loan in full before receiving their deposited money back).

Assignment Task 2: The liabilities of banks to customers and third parties.

Banks are required to maintain certain levels of capital relative to their assets. These requirements help ensure that banks have the financial cushion necessary to absorb losses and continue operating in the event of a crisis. But capital isn’t the only buffer banks have against losses — they also have liabilities.

Banks’ liabilities come from several sources, including deposits from customers and loans from other financial institutions. When a bank incurs losses, it first taps into its capital before turning to its liabilities. This protects depositors and lenders from losses, as they are typically repaid before shareholders receive any money back in a liquidation scenario.

While banks’ liabilities do provide some protection for customers and third parties, there is still some risk involved. For example, if a bank defaults on its loans, the holders of those loans may not be able to recover all of their money.

Assignment Task 3: The rights and obligations created by cheques and other payment mechanisms.

A cheque is a payment mechanism in which the funds are transferred from the drawer’s account to the payee’s account. The rights and obligations of both the drawer and the payee depend on whether the cheque is “presented” or “not presented”.

If a cheque is not presented, then the rights and obligations of the parties are governed by Article 3 of The Bills of Exchange Act 1882. Basically, the parties have an implied contract whereby the drawee owes a debt to the holder of a cheque that is not post-dated, and the drawer owes a debt to the drawee for issuing a post-dated cheque.

If a cheque is presented, then it becomes an order to the drawee to pay the amount on the cheque to the payee. The rights and obligations of the parties are then governed by the Cheques Act 1957, which sets out a number of rules that must be followed in order for a cheque to be valid. For example, the payee must endorse the cheque and present it to the drawee in order to receive payment.

Assignment Task 4: The statutory protections available to paying and collecting banks.

Ireland’s banks are protected by a number of statutory protections which aim to ensure that the banks can continue to operate while they are in debt. These protections include the Credit Institutions (Stabilisation) Act 2010, which gives the Irish government the power to appoint a special manager to a bank, and the Bank Restructuring Act 2013, which allows for the orderly winding-down of a bank.

The statutory protections available to Irish banks are more extensive than those available in other countries. In some cases, these protections have been criticized as being too generous and contributing to the country’s banking crisis. However, they have also been credited with helping to prevent an even worse financial meltdown.

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