Ever since the financial crisis, when Ireland’s entire banking system, collapsed and needed to be bailed out by taxpayers, the European Central bank, and the central bank of Ireland have insisted that all lenders set aside, huge quantities of capital to act as a risk buffer in case things go wrong again.

The consultants Mazar have carried out a study of European banks and compared them, and Michael Tuohy Financial Services Audit Leader with Mazars joined Joe this morning with more details on the study.