As I have described already, my vision for the Irish financial services sector is that it is well managed, well regulated and sustainably serves the needs of the economy and its consumers over the long term. In this context, when the Central Bank assesses the firms we regulate, we are essentially looking at four objectives from a prudential supervision perspective. Regulated firms should: 1.
Have sufficient financial resources, including under a plausible but severe stress. 2. Have sustainable business models. 3. Be well governed, with appropriate cultures, effective risk management and control arrangements in place. 4. Be able to recover if they get into difficulty, and if they cannot, they should be resolvable in an orderly manner without significant externalities or taxpayer costs.