The Central Bank of Ireland published remarks by Deputy Governor McMunn outlining a practitioner’s view of outcomes-focused regulation and supervision, and how the Bank is evolving supervision and regulatory policy to deliver its four Safeguarding Outcomes of consumer and investor protection, financial system integrity, firm safety and soundness, and financial stability. The speech restated five supervisory priorities from the Bank’s 2026 Regulatory and Supervisory Outlook: resilience to geopolitical risks and macro-financial uncertainty, including operational resilience and cyber security; securing consumer and investor interests, with emphasis on customer experience, digitalisation and financial crime; responding to technology-driven change, including artificial intelligence, digital money and tokenisation; supporting environmental and societal transitions, spanning protection gaps, retail investment participation, payments developments, climate change and sustainable finance; and enhancing how the Bank regulates and supervises, including work on simplification. It also described the Bank’s revised supervisory approach introduced last year, which remains risk-based but is intended to be more outcomes-focused, judgement-led, forward-looking and integrated across the Safeguarding Outcomes, supported by the use of the full supervisory toolkit including enforcement. On simplification, the Deputy Governor referenced a report and roadmap published at the end of last year focused on achieving the same regulatory outcomes in simpler ways, while maintaining standards and continuing risk-based supervision and enforcement. The remarks also pointed to a step change in stakeholder engagement, including clearer expectations in authorisations and Fitness and Probity, expanded engagement through industry fora and the Bank’s innovation Hub and Sandbox, and publication of the annual demographics report highlighting gender diversity in senior roles.

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