Ireland's central bank governor, John Hurley, will step down in September as the country moves forward with far-reaching reforms of its financial architecture.

The widely expected resignation - Hurley's term was to end in March but he agreed to stay on to facilitate the reorganisation - follows swiftly on the heels of the resignation of Patrick Neary, who headed up Ireland's financial regulator.

The government has recently unveiled plans to merge the central bank and the financial regulator into