In a new report, the Central Bank of Ireland (“Bank”) identified risks around continued economic weakness, over-indebted private and public sectors and warned that mortgage stress, poor profit outlooks and funding pressures could see the fresh capital put into the country's banks erode quicker than expected. This review provides a systematic overview of macro-financial conditions in Ireland and forms part of the Bank's internal discussions about financial stability and assembles some of the material which is kept under surveillance by the Financial Stability Division of the Bank.