We have also been averse to readily accepting new responsibilities not because we cannot or do not want to but because we should limit ourselves to achieving the best in our core functions rather than the “next best” in undertaking too many roles and tasks.
The banks as a group went into the downturn more exposed than most other systems, and have correspondingly had to cope with worse loan-losses than most. The regulatory response over the past few quarters in Ireland has aimed at making them less vulnerable to confidence shocks or adverse sentiment.