The objective of the IAF is to achieve better outcomes for consumers and users of financial services and for the ongoing functioning of the economy. It will do this by supporting firms in being well run and having sustainable business models. The framework is built on proportionality, predictability and reasonable expectations. Our approach to implementation also embeds these features.
Of course, the Irish financial system serves not only the Irish but also the European and global economies. The IAF, implemented in a high quality manner, should support the Irish financial system in further fulfilling this role while ensuring further protection for consumers and investors. Context In developing our proposals, we have considered the legislative, regulatory and policy framework in which they will operate.