Central Bank warns of risks to financial system as inflation lingersBy Cillian Sherlock, PAThe risks facing the Irish financial system have increased as inflation is weighing heavily on the global economy, the Central Bank has warned. The report outlines the Central Bank’s assessment of key risks facing the financial system, the resilience of the economy and financial system to adverse shocks, and policy actions to safeguard stability. The Central Bank also announced it would increase the countercyclical capital buffer (CCyB) to 1.5 per cent. He said the Central Bank would continue to carry out detailed research and analysis on the measures. The Central Bank is expecting an increase in insolvencies from pandemic lows, but this will remain modest compared to historical levels.

Source: Irish Independent June 08, 2023 02:02 UTC