Tuesday July 14, 2020

Elderfield sharpens focus on risk

The Financial Regulator can't see everything, but Prism should mitigate blind spots, writes Jon Ihle.

4th December, 2011
2
Matthew Elderfield, Financial Regulator: 'We can't man-mark every firm we supervise, but we can team-mark the big banks and insurers'. Photo: Feargal Ward

When Matthew Elderfield started redesigning Ireland's post-crisis financial regulatory system, he must have been tempted to build a version of the fabled panopticon, a kind of all-seeing eye that terrorises the objects of its gaze into believing they are being watched at all times.

Instead he devised Prism, the Central Bank's new 'probability risk and impact system' which debuted last week after months of consultation and preparation.

As a metaphor, 'prism' isn't bad: visible light...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The best writing and and the biggest stories of 2019 from the Business Post

Richie Oakley | 6 months ago

Denis O’Brien is back in court, residents continue to fight the Council on halting site and a row surfaces in government over rent control proposals

Leanna Byrne | 4 years ago