SSM offers best chance of successful regulation, says Cyril Roux
Financial supervision suffers from three in-built weaknesses that make it difficult effectively to execute, but the European single supervisory mechanism (SSM) plus the Basel III accord make success more likely than ever, according to the Central Bank of Ireland's deputy governor in charge of supervision, Cyril Roux.
Addressing the financial services Ireland annual dinner this week, Roux said financial supervisory authorities struggle because though they need to be contrarian, contrarians "are
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