Hurley admits more could have been done to stop banking crisis

CENTRAL Bank governor John Hurley staunchly defended his office’s recent record when grilled by a Dáil Committee yesterday.

However, he conceded more could have been done on the regulation front to aid financial stability in the Irish banking system.

Mr Hurley said that the Central Bank’s various Financial Stability reports have not proven as effective as they may have done and “didn’t change the behaviour of the banks in the way they should have”.