The EBA stress test serves as a useful barometer to assess the health of the European banking sector and focuses on the largest banks operating in the European Union. Relative to other member countries, the Irish banking system has experienced higher loan loss rates since 2008.
Globalisation and the rapid evolution of the regional financial environment have created new challenges for Caribbean Central Banks in their quest to maintain monetary and financial stability. It is my view that the CCMS has a critical role to play in helping us address these challenges. And I think that the CCMS could provide this critical support in a number of ways.