John Walsh: Is the Central Bank now cracking the whip too hard and too often?
It’s hard to muster much sympathy for the banking sector, but executives warn that unless the regulator eases up a little on the hard-and-fast rules and introduces some flexibility, it will erode competitiveness and cost jobs
It is not easy being a Central Banker. Ireland’s financial regulator was accused of being asleep at the wheel for the decade leading up to the financial crash in 2008. Now there are rumblings from industry that the bank is taking too vigorous an approach to regulation.
Perhaps it was inevitable that, following the meltdown of the financial system over a decade ago, and the transfer of certain responsibilities to the single supervisory mechanism...
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Bank of Ireland’s €24.5m fine lays down a marker to all lenders
The bank has been fined an unprecedented sum by the Central Bank for failings in its IT resiliency that endangered both consumers and the financial system itself
Data centre power problem caused IT outage at Central Bank
The disruption is understood to have been caused by a temporary problem at the Leixlip data centre which hosts the bank’s servers