Central Bank's Makhlouf warns over huge risks from non-bank sector

The massive sector in Ireland that includes investment funds and special purpose entities

Gabriel Makhlouf: 'The financial stability risks are self-evident, as are the risks to investors, consumers and the community as a whole.'

Central Bank governor Gabriel Makhlouf has stepped up warnings about the risks to the financial system from the massive non-banking and investment funds industry.

There were elevated risks to the stability of the global system from the international investment funds industry, Mr Makhlouf told a banking industry conference.