##making roles in banks and other financial services firms can create an environment of excessive risk taking and inhibit necessary cultural change9. while some firms are making progress, more needs to be done to increase diversity at senior levels. such diversity can reduce the likelihood of group - think or overconfidence, increase the level of internal challenge, improve decision - making, enhance risk management practices, and reduce resistance to external challenge. the central bank expects boards and senior management to develop ambitious diversity goals, including targets and metrics by which they can measure progress. we expect directors to build pipelines of diverse talent, and take into account the overall construct and functioning of the executive management layer when making appointments. the central bank expects boards to identify and reduce barriers to cultural change and promote diversity and inclusion in all aspects of the firm ’ s activities. our previous research on diversity in financial services and the assessment of diversity undertaken within the behaviour and culture review shows a lack of gender diversity across the entire financial system. in the five years to the end of 2017, men had been appointed to more than nine out of 10 of the most senior and influential roles in the retail banks ( chairpersons, chief executives, chief finance officers, heads of business lines and so on ). many of these appointees have similar backgrounds, education and experience. the central bank has clearly set out our expectations of the five retail banks as part of the behaviour and culture review. we have required each bank to submit an outcome - focused diversity strategy supported by an implementation plan by the end of this week. we expect each plan, at a minimum, to include clear expectations, implementation targets and consider a range of measures of diversity. the central bank will be undertaking further work in 2019 to drive improvements in diversity and inclusion across the financial services sector. in summary, our view is that all banks have more to do in fostering a consumer - focused culture ; improving diversity and inclusion ; and meeting the requirements of good corporate governance. conclusions as the primary driver of the aggregate performance of the banking sector will be the overall state 5 / 6 bis central bankers'speeches of the economy, it is essential that bank directors understand the macroeconomic environment in which they are operating. therefore, in my remarks today i have outlined some of the key macroeconomic and systemic issues the domestic economy faces, as well as the significant tail risks. i pointed to the intrinsic volatility of the irish economy that requires careful macro - financial risk management, with a primary focus on the

. while the bitcoin may have risen in value over time, storing value in bitcoin has been compared to gambling in a casino. [ viii ] these stories highlight the role that money and official currency play in our society, providing stability in value when we trade goods and services. * * * while today money is no longer linked to gold, it is used every day when we buy things, in shops, in restaurants or to buy concert tickets online. we can trust in its value, we know what we will get for 20 euro, this week and next. for the central bank of ireland, public trust is critical. a key element of our vision is be trusted by the public - a trusted organisation that is working in the interests of the public every day. [ ix ] this includes ensuring that citizens can trust in their currency and that they can trust that the bank is fulfilling its mandate for financial stability, consumer protection and prudential regulation. historically many coins had a face depicting the power of the monarch, president, or state. today the central bank of ireland will add the face of rock royalty to one of our coins. * * * the national side of all euro coins allows the countries that use the euro to also recognise the uniqueness of their own cultures and identities. for irish coins, minted by the central bank, we feature the celtic harp. the use of the harp as our national symbol very succinctly reflects the importance of music and culture to the people of ireland. however, it is not only the tail side of our euro coins where euro member states are able to depict our national identities. all eurozone countries issue their own commemorative coins that reflect a rich and diverse range of national heroes, events, and cultural icons. [ x ] across europe, even though we no longer print punts, pesos or francs, the issuance of these commemorative coins in our common currency reflects our uniqueness whilst also embodying the spirit of the european union where we are ‘ united in our diversity ’. the central bank acts as an agent for the minister for finance and public expenditure and reform in issuing all irish coin – both the circulating coins we use every day and commemorative ones. collector coins have more than just monetary value. they are issued to honour people, events and achievements that we value as part of our history, culture and heritage. [ xi ] the themes that are commemorated in ours coins are as diverse as the themes of thin lizzy ’ s