The Central Bank has issued clarification in respect of its risk indicator in relation to directors with high numbers of directorships (set out in its Guidance on Directors’ Time Commitments (which is explored in our In Focus paper and in our June Front Page). The risk indicator refers to an internal Central Bank risk indicator of (a) 20 directorships and (b) having an aggregate annual professional time commitment in excess of 2000 hours. This ‘20’ number refers only to Irish authorised investment funds and Irish authorised fund management companies (UCITS management companies, AIFM and AIF management companies) directorships. Risks linked to the scale of other directorships held by an individual are captured in the calculation and assessment of aggregate professional time commitments. This cl arification is set out in a new Q&A on the Central Bank's Guidance on Directors' Time Commitments.