Financial Regulator steps up supervision of six State-guaranteed Irish banks; Authorised officers assigned on-site; New business plans requested
Oct 24th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Financial Regulator has requested the six Irish banks covered under the State guarantee of liabilities, for new business plans showing how they plan to reduce risks facing them. In stark contrast with the laissez-faire approach during the credit boom, the regulator has placed "officers" on-site in each bank to monitor day-to-day operations.