alan greenspan : bank regulation remarks by mr alan greenspan, chairman of the board of governors of the us federal reserve system, before the independent community bankers of america national convention, san antonio, texas ( via videoconference ), 11 march 2005. * * * i am pleased to join you once again at the annual meeting of the independent community bankers of america. in past years, i have discussed many and varied issues with you, from technological change to the future of community banking in the united states. today, i sense that concern about the burden of regulation is high on your agenda. i thought it might therefore be useful to share some views on regulatory burden from the perspective of a bank regulator. a framework american banking dates to the earliest days of our nation, and its long history has, i believe, taught us some valuable lessons. foremost is that our banking system plays a central role in allocating resources, pooling capital, and funding and fostering economic growth. that role has not changed as our financial system has become more complex and diverse. we also have learned that leveraged banking systems can be both an initiator and a conduit of painful financial and real economic instability. we must keep both of these historical lessons in mind in any evaluation of banking regulation for they explain the tension between our appreciation for the central role that banks play in our prosperity and our concern about banks'potential effects on economic stability. over the years, that tension has been reflected primarily in " safety and soundness " regulation, the supplement to banking supervision. banking supervision is intended to be flexible and to be carried out case by case ; it is designed to limit - - not eliminate - - the risk of failure. over the past fifteen or so years, supervision has focused on ensuring that bank management has in place policies and procedures that will contain such risk and that management adheres to those policies and procedures. supervision has become increasingly less invasive and increasingly more systems - and policyoriented. these changes have been induced by evolving technology, increased complexity, and lessons learned from significant banking crises, not to mention constructive criticism from the banking community. regulations, on the other hand, prescribe and proscribe what must be done and what may not be done in specific areas, and most reflect past events. many regulations are thus backward - looking, adopted in response to specific problems but often remaining after the problems are resolved. however, public comments, changing market realities, and our internal programs help us to identify

cyril roux : supervision and financial regulation at the central bank of ireland address by mr cyril roux, deputy governor ( financial regulation ) of the central bank of ireland, to the financial services ireland annual dinner, dublin, 4 december 2013. * * * ladies and gentlemen. many thanks for this opportunity to share my thoughts and views on supervision as i begin my term as deputy governor for financial regulation at the central bank. i ’ ve started in my new role at a very busy period for supervision and regulation, both here in ireland and internationally. it has certainly become very clear to me in the two months i have been here that supervision and financial regulation is high on the irish public agenda and an area which elicits many opinions and views from the general public, the media, and the regulated firms themselves that you represent. in recent weeks financial firms and the central bank's supervisory activities have been very much in the public eye. some of this attention has cast a public light on individual firms, their provisioning practices and their solvency, some has been on topics touching the main banks, namely the balance sheet assessment ( bsas ) the central bank has recently concluded, and its relevance for our supervisory dialogue on provisions and capital requirements, as well as some broader issues such as mortgage arrears and conduct of business. you will be aware that we have confirmed the outcomes of the balance sheet assessments with the respective banks in recent days. the bsa exercise was conducted by the central bank at this particular juncture as it was necessary to do so before ireland exited the eu / imf programme. the bsa exercise conducted by the central bank will now feed into the ecb ’ s assessment of banks within the single supervisory mechanism ( ssm ) which will culminate with the european stress testing next year. as such, the results of the bsa were not published separately by the central bank, as to do so would be inconsistent with the broader european approach. of course, the banks themselves may have an obligation to make certain disclosures under their own reporting requirements and we have seen some of that over the past few days. all the issues i have mentioned have a common thread – they pit the corporate and client facing behaviours of your firms against our proactive and assertive, risk based, supervisory engagement aimed at ensuring the appropriate outcomes that protect both financial stability and consumers. as an issuer of guidelines and regulations, the central bank has stepped up its game on prudential issues,