Elderfield details Ireland's new risk assessment model
Matthew Elderfield, head of financial regulation at the Central Bank of Ireland, reveals details of new ‘Prism’ risk assessment model
Matthew Elderfield, the head of financial regulation at the Central Bank of Ireland, on May 5 revealed details of a new risk assessment model for financial institutions operating in Ireland.
Banks will be categorised as high impact, medium-high impact, medium-low impact or low impact, under the model and scrutinised accordingly.
"We [the central bank] regulate 14,100 financial services firms all of which pose potential risks, to differing degrees, to the economy or to consumers," said
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