Irish Regulator Resists Pressure to Ease Bank Regulation

Ireland’s top banking supervisor warned of a need to stick with high standards of financial regulation particularly now when there is increasing pressure to ease them amid trade wars, geopolitical tensions and fears for global growth.

“If we’re trying to chase growth with a deregulation engine I don’t think that’s going to end well for anybody,” Mary-Elizabeth McMunn, Deputy Governor for Financial Regulation at the Central Bank of Ireland, said at Bloomberg’s Future of Finance event in Dublin. “It also can’t be that you simplify things just to such a degree that you really fail to capture complex risks.”