The Central Bank of Ireland on Thursday launched its new risk assessment framework for financial institutions in an attempt to strengthen the surveillance of its banking sector.
The Probability Risk and Impact System, or Prism, establishes a new approach for supervisory engagement with the 14,100 or so financial services firms regulated by Ireland's central bank. Under the new framework, banks will be categorised as high impact, medium-high impact, medium-low impact or low impact, and scrutinise
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