Gabriel Makhlouf: Resilience through transitions - facing the tumult

Speech by Mr Gabriel Makhlouf, Governor of the Central Bank of Ireland, at the Waterford Institute of Technology, Waterford, 20 November 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Dia dhaoibh,

It is a pleasure to be here with you at the Waterford Institute of Technology (WIT) today, for my first formal speech as Governor of the Central Bank.  

I am nearly 3 months into my new job.

Some of you may have joined the workforce already; others might be in your final year of college, or thinking about entering the job market. When you start any new job, there is a lot to learn.

This is also true for me, with an institution like the Central Bank that has a wide mandate. We have a broad mission to serve the public interest by safeguarding monetary and financial stability and by working to ensure that the financial system operates in the best interests of consumers and the wider economy.

In this sense, the Central Bank has a number of roles. We take decisions as the macroprudential authority, on the mortgage measures for example. We act as the regulator and supervisor for banks, credit unions, payment institutions, insurance companies and the funds sector. Embedded in our approach to financial regulation is our role as part of the State's consumer protection framework ensuring that the best interests of consumers of financial services are protected.