sharon donnery : remarks - financial industry forum remarks by ms sharon donnery, deputy governor of the central bank of ireland, at the financial industry forum, international subgroup, dublin, 28 march 2024. * * * good afternoon everyone, welcome to the central bank for the financial industry forum international subgroup. this is our third meeting and today marks the one - year anniversary of the creation of this subgroup. last year we covered good ground in our discussion. at our meeting in september, you, as industry members, brought forward your perspectives on supervision of the international financial sector and we look forward to hearing more of your views and perspectives over the course of our meetings in 2024 and beyond. we have a good agenda today, opening with a discussion on our new regulatory and supervisory outlook ( rso ) report – which sets out our view of risks and priorities for the financial sector for the period ahead. for the second session, which industry members of the subgroup will lead, we will discuss the next 10 years of financial services and regulation. and finally we will discuss developments at eu level following the recent eurofi in ghent. i would like to set the scene for today's meeting with a few opening remarks – particularly on the development of our financial sector and our current work transforming regulation and supervision in the central bank. you will note from the rso that this second point is one of our priorities for the year ahead. and indeed, as peter will outline, the rso itself is an example of how we are transforming – taking a more integrated view of risks, and being more open with stakeholders on our thinking and our plans. to take a step back, as you are aware transforming regulation and supervision is something we have called out in our strategic plan – that in the face of a rapidly changing world, and in particular the pace of change and growth in our financial sector, it is necessary to transform our approach to ensure we are not just doing our job now, but are set up in a way to do it sustainably into the future. and there is no doubt that ireland's financial sector has undergone rapid change in recent years, with some of the highest rates of growth occurring in the most complex parts of the system – not to mention the increasing internationalisation of our financial sector, which this subgroup will only know too well. to put this in context, i thought i would set out a few examples to illustrate the growth our sector has undergone in the last 7 years : while there has been

matthew elderfield : recent regulatory developments in ireland opening remarks by mr matthew elderfield, deputy governor of the central bank of ireland, at the central bank of ireland stakeholder conference, dublin, 27 april 2012. * * * good morning, minister, ladies and gentlemen. i would like to welcome you to our first stakeholder conference and to warmly welcome our visitors to ireland. in a few minutes i will invite mr michael noonan, minister for finance to open the conference, but first i would like to make some introductory remarks. our purpose here today is to give irish stakeholders an overview of current and future eu and international regulatory developments and to provide them with an opportunity to share their views. we have here with us representatives of consumers, the financial services industry and broader stakeholder groups, as well as colleagues from the european supervisory authorities, other national regulatory authorities and members of the press. i want to welcome our speakers and panellists and thank them for their engagement and commitment. we are privileged indeed to have such eminent representatives with us today. our discussions will be far reaching but we should try to organise them around two broad long - term themes – stability and consumer protection. a fundamental objective of the central bank of ireland is to ensure “ the stability of the financial system overall ”. this is complemented by our participation in the european systemic risk board and the central bank is now organised to fulfil these mandates. as regards consumers, it is more important than ever that consumers make well - informed decisions and feel confident they are adequately protected if something goes wrong. the consumer mandate has been a priority for the central bank and is an increasing focus of all the european supervisory authorities and their joint committee. the central bank aims to be an active advocate for consumer issues in these fora. before the discussions to open up the debate to the wider european and international agendas, let me say a little about how we in the central bank have been dealing with some of the challenges faced in ireland. it is vital that we do whatever is necessary to protect and improve the reputation of ireland as a financial centre. the irish authorities have taken decisive steps to strengthen the banking system through rigorous, conservative and independent assessments of loan losses, involving recapitalisation actions and targeted reduction of non - core assets. efforts have also been made to improve regulation. in the central bank we see improved standards of governance and fitness and probity across financial services in ireland as a priority. the statutory code of corporate governance sets out clear