Gabriel Makhlouf: The Central Bank of Ireland's regulatory philosophy - regulating for stability and positive outcomes

Opening remarks by Mr Gabriel Makhlouf, Governor of the Central Bank of Ireland, at the Financial System Conference 2022, Dublin, 2 November 2022. 

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

Introduction

Good Morning and welcome – whether you're in the room virtually or physically – to our first Financial System Conference.

The conference is designed to bring together diverse perspectives from the Central Bank of Ireland's wide range of stakeholders – including industry leaders, consumer representatives, and policymakers from Ireland and across the EU – to discuss and debate the forces shaping the financial system.

I am looking forward to hearing different views, perspectives and challenges over the coming two days.

My main task this morning is to open the conference and introduce its key themes.  I also want to talk about the Central Bank's regulatory philosophy – our approach to regulation – and touch on one of the areas of risk that have been a constant and growing theme since I became Governor.

The philosophy of finance

Now, before I talk about our regulatory philosophy, I want to start with philosophy more generally.