Irish regulator lacked 'capacity and will' pre-crisis admits Elderfield

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Matthew Elderfield, head of financial regulation at the cental bank of Ireland, says various investigations have found the bank "had weakness both in terms of capacity and will". He says recent measures, including the recent stress tests and plans to increase its regulatory power, represent efforts to shore up both deficiencies.

Elderfield is keen to point out that recent stress tests carried out by the bank were independently vetted by BlackRock. "The data inputs for this exercise were subject

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