The Federation of International Banks in Ireland (FIBI) held its annual lunch today in the Westin Hotel, Dublin. Speaking at today’s event, William De Vijlder, Group Chief Economist, BNP Paribas gave his assessment of current geopolitical and socioeconomic factors currently at play and how these will likely impact on international banking.
Also speaking at the event FIBI Chairman, Derek Kehoe, reiterated FIBI’s commitment to the government’s Ireland for Finance strategy. In particular he highlighted the importance to international banks here of engagement with officials at senior level and outlined FIBI’s recommendations in relation to the formation of a Central Bank Stakeholder Engagement Group, a key action point within the strategy:
“We firmly believe that regular, constructive engagement with senior-level regulators and policy makers is in everyone’s interests. Which is why the Strategy’s recommendation on the establishment of a Central Bank Stakeholder Engagement Group is so very welcome. Based on our own research of international best practice in this area across a range of EU Member States, we have identified key features for this Stakeholder Engagement Group as follows:
- It should be established on a statutory basis and overseen by the Central Bank of Ireland
- It should provide a cross-sectoral strategic engagement structure which is two-way in nature and is supported by independent external surveying
- It should provide advice and feedback to assist the Central Bank in fulfilling its obligations, consistent with the Bank’s own strategic plan
- Comprising the CEOs or Chairs of the main industry representative bodies, it should meet quarterly.
We have tabled these proposals for careful consideration and hope that they can be adopted and acted upon in the foreseeable future.”
Notes: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland. Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has over 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.
Contact: Jillian Heffernan, Head of Communications, 087 9016880 or jillian.heffernan@bpfi.ie
