Learning how to better assess these rather new risks is essential on both sides of the table. Challenge number three – the profitability of banks – is an issue that we have been talking about ever since we found ourselves in a low interest rate environment following the financial and sovereign debt crisis.
To conclude, I am pleased to report that, notwithstanding some significant vulnerabilities and downside risks noted earlier, our overall conclusion is that the Irish financial system continues to be in a good state of health. Frank Browne will now make a short presentation on some of the most pertinent points in the Financial Stability Review.