Central Bank Governor Patrick Honohan this morning
“Our priority during 2010 and 2011 has been and continues to be to work towards the resolution of the financial crisis and respond to the problems of under-capitalisation in the banking system,” the bank said in its annual performance statement, also published today.
“The strategy in relation to regulation is based on the need to develop and implement a new model of regulation, an assertive risk-based approach, underpinned by a credible threat of enforcement. The objective is to be better at not only identifying risks but also in challenging firms on the risks they face and ensuring the risks are mitigated as far as possible.”
Pity the banks have no money to take any more risks to regulate.
Still. Nice tie.
Central Bank Unveils Annual Report (Ciara O’Brien, Irish Times)