Even though the number of banks on the Federal Deposit Insurance Corporation’s “Problem List” has fallen from a peak of 888 at the end of the first quarter of 2011 to 291 at the end of 2014, this number is still nearly three times the historical average. But these risks are understood by supervisors and bankers.
A number of issues were identified which will need to be addressed by lenders to ensure that the solutions they are applying are sustainable in the longer term. Another central area of focus for our consumer protection mandate is the Safeguarding of Client Assets,. Our review published in March 2012, made a number of recommendations aimed at improving the Client Asset Regime in Ireland.