Former Central Bank official says warnings about State's financial stability were censored

A former senior official at the Central Bank has said some warnings about the State's financial stability were censored before they were released.

Frank Browne has told the Banking Inquiry that some of the financial risks highlighted by researchers were removed by the boards of the Central Bank and Financial Regulator.

Mr Browne is the former head of the Central Bank's Financial Stability Division, which was responsible for analysing the health of Ireland's financial sector.

He said senior managers at the bank appeared to have concerns about releasing what they saw as the "wrong" result - and that any criticism about the economy "did not have the impact it should have had because of its toned-down state".

KEYWORDS: Banking Inquiry


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