The Central Bank is to resume the publication of Financial Stability reports in the new year after not publishing the key document since 2007 when the financial crisis began in the US.

The reports are produced by the Central Bank, with input from the Financial Regulator, and are meant to outline the systemic risks present in the banking system and in other types of financial institutions. The reports also outline the key threats to the economy, either from asset bubbles or excessively pro-cyclical economic policies.

The reports are currently being compiled and will be presented in January or February by the new governor of the Central Bank Patrick Honohan or the new Financial Regulator Matthew Elderfield.

The OECD commented last week on the absence of such reports from the Central Bank in the last two years. "While annual Financial Stability Reports provided a good indication of some of the emerging difficulties, they did not translate into sufficient action," the Paris-based body said last week.

The former governor of the Central Bank John Hurley admitted earlier this year that previous stability reports failed to change the "behaviour" of banks or government policy. The OECD said such reports give an "important overview of developments related to financial stability" and should be re-instated as soon as possible.