Central Bank governor Honohan: No room for doubt on regulation

The governor of the Central Bank has warned that inefficient regulation of the banking sector can be "as useless as no regulation".

Patrick Honohan was speaking at the launch of a book about banking architecture in Dublin this evening.

He said any doubt over the quality of supervision and the degree to which international standards are being enforced on financial firms in the IFSC would adversely affect the functioning of the sector.

Mr Honohan added that it is "not just a question of doing enough, but of being seen to do enough".

He also confirmed that the Central Bank is planning to relocate from its premises on Dame Street, but said this move could take several years.