policymakers, to students and to the very data we collect. coming from a central bank that has a mandate for both financial stability and financial sector supervision, diversity is vital. as a regulator, we actively recognise and promote the need for increased diversity in the firms we regulate. indeed a lack of diversity at senior levels is associated with some of the problems that contributed to the financial crisis. issues such as groupthink, insufficient challenge, poorly assessed risk, and problems with culture. these are compelling reasons why organisations and businesses should themselves ensure greater gender diversity at senior level. evidence shows us that diversity can lead to improved outcomes in terms of governance, decision - making, and productivity. research shows that female participation on bank boards has a positive effect on bank performance once a threshold is reached. 2 also that the very diversity of the board can mitigate groupthink, bringing a mix of values, beliefs and attitudes. 3 in terms of business, there is evidence on how gender diversity can affect the process and quality of decision making. 4 studies suggest that a higher female presence in top management could help develop better types of leadership behaviour across organisations – namely people development, setting expectations and rewards, providing role models, and participative decisionmaking. 5 furthermore, reducing gender differences between management and staff can enhance worker productivity. 6 beyond regulation, as central bankers, many of our decisions on monetary policy and on financial stability are made by people with a background in economics. and we know that perspectives differ by gender. a recent imf study shows that economists views on issues such as the fairness of the labour market and the desirability of government intervention varies systematically by gender. 7 different views by gender, were also evident on environmental protection in the same study. overall, female economists were more likely to support increased environmental protection than their male counterparts. recent research in germany shows that the gender of policymakers makes a difference. using the public provision of childcare as an example, the study shows that municipalities with a higher share of female councillors expand public childcare more quickly. 8 this difference in views is important when it is often economists that are designing policy that affects all households, businesses and lives for today, and crucially, for future generations. but it is not only looking at the policymakers today, we must also be conscious of the policymakers of tomorrow. speaking last year, president mary daly of the federal reserve bank of san francisco, noted that the gender of those entering economics in the us has

) no. 575 / 2013 ( crr ) and directive 2013 / 36 / eu ( crd iv ) came into effect on 1 january 2014. the crr is directly applicable to all member states while crd iv has been transposed into irish national law via statutory instruments 158 / 2014 & 159 / 2014 [ european union ( capital requirements ) ( no. 2 ) regulations 2014 ]. further information. the bank recovery and resolution directive ( brrd ) provides national resolution authorities with comprehensive and effective powers for dealing with failing banks. this framework and related legislation enhances both the resilience and the resolvability of eu 6 / 7 bis central bankers'speeches institutions and in - scope investment firms, which will be better prepared to deal with, and recover from, a crisis situation. moreover, in the event that an institution does fail, the impact associated with that failure should be minimised. available here. 7 / 7 bis central bankers'speeches