As Michael reminds us in this book, the industrial structure of banking was very stable in Ireland for a century or more. With the shift towards joint stock, deposit-based banking, the private banks faded away and just seven firms, which became known as the “Associated Banks” dominated the scene.
*  *  *  It is a pleasure to join you for this joint Roundtable on Financial Reporting and Auditing. As chairman of the Financial Stability Forum, I would like to express my appreciation to all of you that are participating in this roundtable as distinguished speakers or in other roles.