Matthew Elderfield: The Irish banking sector – five challenges Address by Mr Matthew Elderfield, Deputy Governor of the Central Bank of Ireland, to the Association of Compliance Officers in Ireland, University College Cork, Cork, 19 October 2012. *  *  *  Completing the task of fixing the Irish banking system is not an end in itself.
A healthy functioning banking system is essential to the economic well-being of Ireland. It is essential for breaking the damaging link between a distressed banking system and weak public finances. And it is important for economic recovery that the banks are once again in a position to lend to small businesses and homeowners.