Issue 7 2026
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Reporting & Disclosure in Ireland
Reporting & Disclosure regulatory updates from Ireland.
Makhlouf calls for genuine single market in goods, services and capital to boost European competitiveness
Governor of Central Bank of Ireland Gabriel Makhlouf today (Tuesday 19 th May) spoke at the AFME Annual European Financial Integration conference , where he called for a more ambitious approach to Europe’s Single Market, arguing that greater integration in goods, services and capital is essential to enhance European competitiveness and resilience. The Governor outlined two primary conditions for building a genuine single capital market: completing the regulatory architecture and establishing ...
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One Single Market: Goods, Services and Capital - Speech by Governor Gabriel Makhlouf at AFME European Financial Integration Conference
Thank you for the invitation to speak this afternoon. I want to talk about the Single Market, which is one of Europe's greatest political and economic achievements. Over more than three decades, it has been an engine of European growth and resilience, delivering scale, opportunity, and tangible benefits for citizens and businesses across the Union. As António Costa has pointed out, it connects 450 million consumers and 32 million companies, supporting around 56 million jobs through trade with...
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“Capital, Competition, and Complexity – regulatory perspectives on the regulatory debate” – Remarks by Deputy Governor Mary-Elizabeth McMunn
Introduction Good morning – I am delighted to be here, and many thanks to Brian and the BPFI for hosting us. 1 I very much look forward to the discussion, and to hearing from you all today, but before I do I would like to set out some reflections on a number of topics which are currently high on the regulatory agenda. While the discussion is multifaceted, and tied up with a regulatory cycle which has turned, an economic one which has become more challenging, not to mention a renewed focus by ...
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Central Bank publishes research on the Irish lending market and reinforces importance of capital and resilience
Central Bank loan-level research shows the Irish lending market is significantly less concentrated when considering the full diversity of lenders. Robust capital and liquidity positions have served the sector well – with the evidence not supporting a lowering of overall levels of resilience on the basis of bank credit, profitability or international competitiveness. Central Banks best serve these broader objectives related to productivity and growth by delivering on their core mandates, effec...
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Bank
Remarks by Director of Horizontal Supervision, Patricia Dunne to the European Anti-Financial Crime Summit, Dublin
Safeguarding Financial Integrity – Central Bank of Ireland’s Approach to Financial Crime Prevention Thank you for the invitation to speak at today’s event. This is an important opportunity for us to engage and share our experiences and approaches to deal with the global challenges and issues we are facing in financial crime. Change, instability, flux, unpredictability - all words that I guarantee you will hear on multiple occasions throughout the day’s events. I will not be any different. We ...
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Bank
New Central Bank research reveals one in three Irish adults have experienced fraud, yet 38% never report it
More than one in three Irish adults (35%) have experienced fraud or scams. 38% of fraud victims never reported their experience to their financial service provider or any authority. Research identified risky online behaviours as the single strongest predictor of fraud experience—more influential than age, income, or education level. Fraud victims are far more likely to recover monies when the fraud is reported. Fraud literacy reduces predicted fraud exposure Central Bank of Ireland of Ireland...
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Bank
Issue 4 2026
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Asset ManagerBroker DealerBank
Central Bank publishes Financial Conditions of Credit Unions Report
Central Bank of Ireland today published the annual Financial Conditions of Credit Unions Report, which provides an update on the financial performance and position of the sector for the financial year ended 30 September 2025.
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Bank
Opening Remarks by Governor Gabriel Makhlouf for the Savings and Investment Forum
Good morning and welcome to Central Bank of Ireland. Thank you for joining us for this inaugural gathering of the Savings and Investment Forum. I want to extend a particular welcome to the Tánaiste. Today marks an important milestone. The Department of Finance's 2024 Funds Review recognised the importance of enabling more retail investment in Ireland. It recommended establishing this Forum to address that challenge and today provides a timely opportunity to do so. Let me place this initiative...
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BankWealth ManagerAsset Manager
Central Bank of Ireland launches commemorative coin honouring playwright Seán O'Casey
Central Bank of Ireland today launched a commemorative coin celebrating the life and work of renowned Irish playwright Seán O'Casey, on what would have been his 146 th birthday. It marks the 100th anniversary of the inaugural performance of his masterpiece The Plough and the Stars at the Abbey Theatre. The silver proof coin will go on sale today (Monday 30 March 2026) at 1pm on www.collectorcoins.ie . Designed by PJ Lynch, there are just 3,000 coins available, and they will retail at €90. Gov...
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How the Consumer Protection Code Secures Your Interests
The Central Bank of Ireland today (Tuesday 24 March 2026) marked the coming into force of the modernised Consumer Protection Code, giving consumers stronger protections when using banks, insurance companies, and other financial services. The modernised Code has been designed to better protect consumers in today’s world, and in anticipation of how financial services will evolve into the future. It follows extensive public consultation and engagement. Deputy Governor Colm Kincaid said: "The Cen...
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BankInsuranceAll Firms
Issue 2 2026
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Central Bank of Ireland publishes first access to cash report
The Central Bank of Ireland has today (24 February) published its first quarterly Access to Cash report . The Finance (Provision of Access to Cash Infrastructure) Act 2025 has put in place a framework to ensure sufficient and effective access to cash across the State. Today’s report uses newly collected data to show the number, location and opening hours of ATMs and cash service points across eight geographical regions in Ireland, as of 31 December 2025. The Minister for Finance set the acces...
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BankPayment Provider
Increasing investment sustainably is key for Irish economy - Central Bank of Ireland Deputy Governor Vasileios Madouros
Central Bank of Ireland Deputy Governor Vasileios Madouros spoke at Technological University Dublin on the need to increase domestic investment over the next decade to support Ireland’s long-term economic success. Looking back, Deputy Governor Madouros discussed how, despite very strong economic growth, investment in key domestic sectors has been relatively subdued over the past decade. Looking ahead, like many other countries, Ireland is facing profound economic and societal shifts in years ...
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BankAsset ManagerWealth Manager
A Steady Hand: why the Governing Council held rates at 2 per cent this week
In his latest blog, Governor Gabriel Makhlouf explains why the Governing Council kept its main policy interest rate (the deposit facility rate) unchanged at 2% for the fifth consecutive time since June 2025.
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BankAsset ManagerWealth Manager
Central Bank of Ireland completes sale of Spencer Dock (East Wing) building to the Office of Public Works
Central Bank of Ireland has successfully completed the sale of its Spencer Dock (East Wing) building to the Office of Public Works for €23.7m. The sale of Spencer Dock was a key element of the Central Bank’s longer term property strategy aligned to our decision to develop a single Dockland Campus through the purchase of our North Wall Quay building and subsequent purchase of our Mayor Street building. This sale of the East Wing, to Office of Public Works on 22 January 2026, follows the earlie...
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“The Year That Was and Will Be”
In this, his final blog for 2025, Governor Gabriel Makhlouf reflects on Ireland and the euro area’s economic performance and looks ahead to 2026, drawing on the Quarterly Bulletin and latest eurosystem staff projections published this week.
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Central Bank of Ireland publishes roadmap to deliver a more effective and efficient regulatory framework
New report outlines the Central Bank’s approach to more effective and efficient regulatory and supervisory framework, reducing complexity and improving clarity while maintaining resilience and important protections in the system. This work builds on the Central Bank’s strategy to transform regulation and supervision, including the introduction of our new integrated supervisory approach and the improvements made in our gatekeeping processes in recent years. The roadmap sets out a comprehensive...
AI Analysis
The Central Bank of Ireland published a comprehensive multi-year roadmap on December 10, 2025, aimed at streamlining its regulatory and supervisory framework across four pillars: supervision, regulation, gatekeeping, and reporting. This initiative represents a strategic shift toward more effective and efficient oversight while explicitly maintaining resilience standards and consumer protections, responding to EU calls for regulatory reform to enhance competitiveness.
AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.
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Central Bank of Ireland launches Access to Cash consultation
The Central Bank of Ireland has today (5 December) launched a public consultation on the implementation of our new Access to Cash responsibilities. Deputy Governor Vasileios Madouros said: “Amid a rapidly evolving payments landscape, the Central Bank of Ireland is committed to making sure that cash continues to be readily available as a means of payment. Today’s consultation is an important step towards the implementation of the Central Bank’s new responsibilities under the Access to Cash leg...
AI Analysis
The Central Bank of Ireland has launched a public consultation on implementing new **Access to Cash** responsibilities under the Finance (Provision of Access to Cash Infrastructure) Act 2025, which commenced on 30 June 2025. This consultation addresses two critical areas: identifying local deficiencies in cash infrastructure and establishing minimum ATM service standards. The initiative reflects regulatory commitment to ensuring cash remains readily available as payment preferences shift toward digital channels.
AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.
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The Macrofinancial effects of climate change in Ireland: What have we learned? – Speech by Deputy Governor Vasileios Madouros
Good morning everyone. 1 I am delighted to join you here today for this year’s Climate Finance week. “The scientific evidence that climate change is a serious and urgent issue is […] compelling.” “The benefits of strong, early action on climate change outweigh the costs.” And “the choices made in the next 10-20 years […] will affect greenhouse gas emissions for the next half-century.” These are not my words. And they are not recent words. They are key conclusions from the Stern Review on the ...
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ECB Interest Rates
At our meeting yesterday, the ECB’s Governing Council cut our three policy rates by 25 basis points (or, one quarter of a percent). The disinflation process remains on track, allowing us to reduce rates. However, with some components of inflation still too high for comfort – notably, services inflation – I continue to favour a gradual reduction in rates over large moves. As policy rates fall, we should see a reduction in the costs of borrowing for households and firms. We are already seeing s...
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Central Bank publishes Flood Protection Gap Report
The Central Bank of Ireland has today (Monday 14 October) published its Flood Protection Gap Report . Some homes and businesses in Ireland are unable to obtain flood cover. This means that when a flood occurs, there can be a shortfall between the actual cost of the flood and the portion of that cost that is covered by insurance. This is the flood protection gap. The occurrence of severe flooding could and does leave households and business with high levels of uninsured losses, and may create ...
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BankInsuranceAll Firms
Address by Director of Insurance Supervision, Domhnall Cullinan, to the Insurance Ireland-Milliman CRO Forum
I’d like to thank Insurance Ireland and Milliman for inviting me here today for this Chief Risk Officer (CRO) Forum. I’d like to use this opportunity to briefly reflect on the recent turmoil we’ve seen in the banking sector, what this might mean for (re)insurers, and to highlight some of our supervisory priorities going forward. Much commentary has already been devoted to the fallout from SVB and Signature Bank in the US, and to the acquisition of Credit Suisse by UBS. Whilst the exposure of ...
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BankInsurance
Central Bank publishes three Behind the Data papers examining the international activities of the Irish financial sector
Recent increase in cross-border financial assets is largely due to migration of assets from UK banks to subsidiaries in Ireland, to continue to serve EU clients after Brexit. Paper examining the strength of the connectedness of Irish insurance sector and investment funds finds insurers primarily hold shares in equity, bond, and mixed funds. The Irish non-bank financial intermediation sector – as measured using a Financial Stability Board framework - is the fifth largest in the world. The Cent...
AI Analysis
The Central Bank of Ireland (CBI) published three "Behind the Data" papers on 20 January 2022 analyzing the international activities of Ireland's banking, insurance, investment funds, and non-bank financial intermediation (NBFI) sectors, highlighting post-Brexit asset migrations, insurer exposures via funds, and Ireland's fifth-largest global NBFI sector per FSB metrics. This matters for compliance professionals as it signals heightened CBI scrutiny on cross-border exposures, interconnectedness, and data granularity needs, potentially informing future supervisory expectations, macro-prudential policies, and reporting enhancements without imposing immediate rules.
AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.
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BankAsset ManagerInsurance
Opening remarks at the 2020 Insurance Industry Briefing - Domhnall Cullinan, Director of Insurance Supervision
Opening remarks at the 2020 Insurance Industry Briefing Good morning everyone. I would like to thank you for attending today’s industry briefing. In my remarks this morning, I will take this opportunity to touch on: the role that insurance can play in society; some of the reasons why the industry in Ireland is negatively perceived; and the areas of supervisory focus for the Central Bank moving forward. 2020 has been an unprecedented year in so many respects and the emergence of COVID-19 has a...
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BankInsurance
Introductory statement by Governor Gabriel Makhlouf at the Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Good afternoon Chairman, Committee members, I am joined by Ed Sibley, Deputy Governor, Prudential Regulation and Derville Rowland, Director General, Financial Conduct. We welcome the opportunity to appear before you today. The effects of the COVID-19 pandemic have been deep and distressing for our community. The actions taken to contain the health emergency have affected the economy and all of our lives. The Central Bank’s job is to ensure the financial system operates in the best interests o...
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Introductory statement by Derville Rowland, Director General, Financial Conduct, at the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach
I am joined today by Gráinne McEvoy, Director of Consumer Protection, and Domhnall Cullinan, Director of Insurance Supervision. Thank you for this opportunity to speak to you today about the Central Bank’s work in regulating and supervising the Irish insurance industry and specifically the practices of differential pricing and dual pricing. Insurance serves a critical role in the functioning of a modern society, through reducing uncertainty by protecting people and businesses against the risk...
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BankInsurance
Enforcement Action: RSA Insurance Ireland DAC fined €3.5m
The Central Bank of Ireland imposes a fine of €3,500,000 on RSA Insurance Ireland DAC for regulatory breaches relating to large loss claims and accounting irregularities On the 18 December 2018, the Central Bank of Ireland (the “ Central Bank ”) reprimanded and fined RSA Insurance Ireland DAC (“ RSAII ” or the “ Firm ”) €3,500,000 in respect of serious breaches relating to the following: Failure to establish and maintain Technical Reserves in respect of all underwriting liabilities assumed by...
AI Analysis
The Central Bank of Ireland (CBI) fined RSA Insurance Ireland DAC (RSAII) €3.5 million in December 2018 for serious breaches involving failure to maintain adequate technical reserves, inadequate internal controls and accounting procedures, and weak governance, stemming from deliberate under-reserving of large loss claims from 2009 to 2013, which understated reserves by €78.2 million as of 30 September 2013. This enforcement action underscores the CBI's zero-tolerance stance on reserving practices that risk policyholder protection and financial stability, highlighting how governance failures enabled manipulation and led to a significant capital injection for RSAII. It matters for compliance professionals as it demonstrates ongoing CBI scrutiny, with related actions against individuals like former CEO Philip Smith (13-year disqualification in 2025) and a former actuary (5-year prohibition).
AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.
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Insurance
New Data Series: Insurance Data – Solvency and Financial Condition Reports
The Central Bank of Ireland has today published a consolidated view of publically available data for insurance and reinsurance firms. Under new Solvency II regulations, firms must provide public disclosures. The public disclosures take the form of a Solvency and Financial Condition Report (SFCR), which firms produce on an annual basis. All Individual SFCRs from firms regulated by the Central Bank are available in a dedicated repository on the Central Bank’s website . This year the Central Ban...
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Insurance
Credit Reports now available
Following a satisfactory review of the data submitted by banks and credit unions, to the Central Credit Register, the initial enquiry phase has now commenced. This means that from today borrowers and lenders can request a copy of credit reports from the Central Credit Register. Data on mortgages, personal loans, credit cards and overdrafts, which is backdated to 30 June 2017, is live on the system and is incorporated into credit reports. From 30 September 2018 it will be compulsory for credit...
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