CBI Consultations | Central Bank of Ireland

🇮🇪 CBI Consultation medium

March 5th 2026

Central Bank of Ireland Launches Discussion Paper on Tokenisation and Distributed Ledger Technology in Financial Services

Central Bank of Ireland today published a Discussion Paper examining the potential role of Distributed Ledger Technology (DLT) and tokenisation in the financial system . Deputy Governor Vasileios Madouros, commenting on the publication, said: “Distributed ledger technology and tokenisation have the potential to transform how financial services are delivered. We believe this technology, if enabled and deployed correctly, can change the financial system for the better, including by helping the ...

AI Analysis

The Central Bank of Ireland (CBI) has launched Discussion Paper 12 (DP12) on Distributed Ledger Technology (DLT) and tokenisation in financial services to explore their transformative potential in areas like markets, funds, payments, and money, while assessing opportunities, risks, and enablers such as legal clarity and interoperability. This matters for compliance professionals as it signals CBI's proactive stance on integrating these technologies into a resilient financial system, aligning with EU ambitions like the Savings and Investment Union, and invites stakeholder input to shape future policy without proposing immediate rules. (Source: https://www.centralbank.ie/news/article/press-release-discussion-paper-tokenisation-and-distributed-ledger-technology-in-financial-services-5-march-26 [publication]; https://www.arthurcox.com/insights/central-bank-issues-discussion-paper-on-dlt-tokenisation-in-financial-services/ )

What Changed

This is a non-binding discussion paper, not a regulatory change or new requirement; it poses 16 questions on topics including legal recognition of tokenised instruments, governance, infrastructure, funds (e.g., tokenised MMFs and ETFs), payments, and risks like operational resilience and interoperability. It highlights needs for policy intervention to avoid fragmented "walled gardens," ensure central bank money's role, and address challenges in fractionalisation, transparency, and settlement finality, but no mandates are imposed yet.

What You Need To Do

Review DP12 (PDF available via CBI site) and prepare/ submit responses to the 16 questions by 5 June 2026, focusing on legal clarity, risks, funds tokenisation, and enablers like interoperability
Engage in CBI's structured stakeholder dialogues to influence future frameworks
Assess internal DLT/tokenisation pilots or plans against discussed risks (e
No immediate compliance obligations, but monitor for follow-up rules; funds firms should evaluate tokenised share/unit models

Key Dates

5 June 2026 - Deadline for stakeholder submissions responding to the 16 questions in DP12. DEADLINE

Post-5 June 2026 - CBI to publish a feedback statement assessing responses and existing policy fit. (Source: https://www.centralbank.ie/news/article/press-release-discussion-paper-tokenisation-and-distributed-ledger-technology-in-financial-services-5-march-26 [publication]; https://www.arthurcox.com/insights/central-bank-issues-discussion-paper-on-dlt-tokenisation-in-financial-services/ )

Compliance Impact

Urgency: Medium – This consultative paper poses no immediate rules but represents a key opportunity to shape emerging DLT/tokenisation regulation amid CBI's 2026 priorities on tech-driven transformations and resilience; inaction risks missing input on critical enablers like legal finality for tokens, potentially leading to stricter future requirements misaligned with firm needs. It aligns with broader EU/BIS pushes (e.g., MiCA, tokenized reserves), amplifying relevance for firms in funds, payments, and crypto.

References

Sectors:

Topics:

Technology & Cyber Operational Resilience / Outsourcing Authorisation & Licensing

Asset ManagerBankFintech

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🇮🇪 CBI Consultation high

December 5th 2025

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.

Sectors:

Banking & Credit Payments & E-Money

Topics:

Consumer Protection / Conduct Operational Resilience / Outsourcing Reporting & Disclosure

BankPayment Provider

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🇮🇪 CBI Consultation medium

July 23rd 2024

Central Bank publishes feedback statement on macroprudential policy for investment funds

The Central Bank of Ireland has today (Tuesday 23 July) published a Feedback Statement to the Discussion Paper on an approach to macroprudential policy for investment funds.

AI Analysis

The Central Bank of Ireland (CBI) published a Feedback Statement on 23 July 2024 summarizing stakeholder responses to its Discussion Paper (DP11) on developing a macroprudential policy framework for investment funds, emphasizing the sector's growth and systemic risks. This matters for compliance professionals as it signals ongoing domestic and international efforts to enhance fund resilience amid rapid expansion of non-bank financial intermediation (NBFI), with Ireland's funds sector reaching €6.2 trillion in assets by end-2022. No immediate new rules are imposed, but it underscores evaluation of existing measures and future policy evolution.

What Changed

This Feedback Statement introduces no new regulatory changes or requirements; it is a summary of feedback on DP11 and CBI's perspectives on macroprudential considerations for funds. It highlights two pre-existing macroprudential measures already implemented: Restrictions on leverage and liquidity mismatch for Irish-authorised property funds (introduced prior to 2024). A codified minimum 300bps yield buffer for Irish-authorised GBP-denominated Liability Driven Investment (LDI) funds, requiring resilience to UK interest rate shocks, with liquid assets in the buffer and real-time notifications...

What You Need To Do

For GBP LDI funds
For property funds
All relevant managers

Key Dates

18 January 2024 - Consultation deadline for CP157 on macroprudential measures for GBP LDI funds. DEADLINE

23 July 2024 - Publication of Feedback Statement to DP11 on macroprudential policy for investment funds.

29 April 2024 - Announcement and start of three-month implementation period for GBP LDI yield buffer measures.

29 July 2024 - Effective date for GBP LDI funds' minimum 300bps yield buffer compliance (three months post-announcement). DEADLINE

22 November 2024 - CBI response to European Commission consultation on macroprudential policies for NBFI.

Compliance Impact

Urgency: Medium—No new rules from the Feedback Statement itself, reducing immediate pressure, but firms must ensure full compliance with implemented LDI (by July 2024) and property fund measures while preparing for evaluations and EU-level developments (e.g., November 2024 CBI response). This matters as Ireland's funds dominance (global hub status, 16% of world financial assets) amplifies systemic scrutiny, with non-compliance risking supervisory actions under AIFMD Article 25 or future tools; proactive monitoring prevents disruptions in a €68 trillion global sector.

References

Sectors:

Investment Management Capital Markets & Trading

Topics:

Prudential / Capital Requirements

Asset ManagerHedge Fund

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🇮🇪 CBI Consultation high

April 29th 2024

Central Bank of Ireland introduces macroprudential measures for Irish-authorised GBP-denominated LDI funds

The Central Bank of Ireland has today (29 April 2024) announced the introduction of macroprudential measures for Irish-authorised GBP-denominated Liability Driven Investment (LDI) funds. Building on the recent Consultation Paper “Macroprudential measures for GBP Liability Driven Investment funds”, the measures require that GBP-denominated LDI funds authorised in Ireland maintain sufficient resilience to be able to withstand a sudden and adverse shocks to UK interest rates.

AI Analysis

The Central Bank of Ireland (CBI) introduced binding macroprudential measures on 29 April 2024 requiring Irish-authorised GBP-denominated Liability Driven Investment (LDI) funds to maintain a minimum **300 basis point yield buffer** to withstand adverse UK interest rate shocks. This regulatory intervention directly addresses systemic risks exposed during the September-October 2022 UK gilt market crisis, where excessive leverage in LDI funds amplified financial stress across markets.

Sectors:

Investment Management Capital Markets & Trading Wealth & Private Banking

Topics:

Prudential / Capital Requirements Authorisation & Licensing Operational Resilience / Outsourcing

Asset ManagerHedge FundWealth Manager

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🇮🇪 CBI Consultation high

March 20th 2018

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...

Sectors:

Banking & Credit Consumer Credit Mortgage & Lending

Topics:

Reporting & Disclosure Consumer Protection / Conduct Authorisation & Licensing

BankPayment ProviderAll Firms

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