Thursday October 22, 2020

Banking inquiry cannot afford to be a token one

If there is belatedly to be a banking inquiry, then we need it to pore over every last detail - and to ask the hard questions that really matter, writes Michael Murray.

24th August, 2013
The basic question that Nyberg failed to get an answer to was this: who was behind the push to relax standards?

The new financial regulator, Cyril Roux, will arrive in Dublin to a fairly full in-tray. The resolution of the mortgage crisis will be an obvious priority.

Roux will want to ensure that the resolution measures now in place do not create moral hazard or a rise in the incidence of strategic defaults. Without being handled deftly, the crisis has the capacity substantially to enlarge the capital holes in the banks' balance sheets, which in turn...

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