https://www.centralbank.ie/news/article/speech-braving-the-storm-ed-sibley-4-nov-20  4/7  06/11/2020  “Braving the storm: the unprecedented challenges facing SMEs” - Deputy Governor Ed Sibley  Unfortunately, not all businesses will survive the economic shock caused by the pandemic and the associated changes in their customers’ behaviours.
There is an opportunity and an obligation on banks to demonstrate how they have changed over the last decade by taking a borrower friendly approach to supporting as many borrowers as practical to survive. The Central Bank’s intrusive supervision of all lenders is focused on this outcome.