Letters to the Editor: Central Bank must modify outdated regulations

The recovery of this country will be dependent on the ability to have access to funding for homes and business ventures

The negative effects of Bank of Ireland branch closures and the departure of Ulster Bank from the market may be partially attributed to over-regulation of the sector by the Central Bank, a reader suggests. Picture: Andy Gibson.

The negative effects of Bank of Ireland branch closures and the departure of Ulster Bank from the market, together with the impact that technology is having on many customers, have been well outlined by Patrick Neary and James Heeran (Irish Examiner, March 5, 2021).

Some of these unfortunate events may, in fact, be partially attributed to over-regulation of the banking sector by the Central Bank, which has decreed that extremely high capital reserves must be held in order to safeguard against bad loans.