Thursday August 13, 2020

Financial regulator to create framework for market-based finance sector

Central Bank governor Gabriel Makhlouf says Irish financial system needs to ‘get ahead of the curve’ and assess risks

Daniel Murray

Business Reporter

5th July, 2020
Gabriel Makhlouf: ‘shadow banking’ concerns

The Central Bank will develop a regulatory framework to oversee the non-bank financial sector, as already exists for traditional banks, Gabriel Makhlouf, the Central Bank Governor, has said.

Speaking at an online event with European think-tank Bruegel early last week, Makhlouf said the financial regulator would establish a macroprudential framework for the non-bank or market-based finance sector.

Maklhouf has previously raised concerns about the “shadow banking” sector in Ireland, but last week for the first...

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