Coordination needed to address ‘systemic risks’ of non-bank sector – CBI

Gabriel Makhlouf said lessons must be learnt from the global financial crisis, the market shock from the pandemic, and the UK’s recent LDI issues

Gabriel Makhlouf, the governor of the Central Bank, said that feedback on the its 2023 framework discussion paper would be published in coming months. Picture: Vivek Prakash

Gabriel Makhlouf, the governor of the Central Bank of Ireland (CBI), has called for global coordination in addressing “systemic risks” related to the non-bank sector.

Makhlouf said that the existing regulatory framework, while a good starting point, had not been designed for purpose, and that global and European coordination was needed.

The CBI governor was speaking in Washington DC at a conference on capital markets and financial stability, ahead of a week of engagements at ...