Central Bank

The latest news, analysis, and comment concerning the Central Bank, Ireland’s financial services regulator

Irish wage growth hits 4.3% in June

The study from Indeed and the Central Bank of Ireland shows wages remain higher than the pre-pandemic average of 2.5 per cent in 2019

Chambers faces balancing act in first budget

The models suggest no need for a giveaway budget. Will the new finance minister listen?

Switching rate increases for mortgage borrowers at non-lending service firms

Central Bank-published study finds rate at which lower-risk borrowers are leaving non-lending service firms has been higher than the switching rate away from retail banks in recent months

Bank of Ireland lines up senior executive Gavin Kelly as Davy CEO

Bernard Byrne, who took charge of the business in 2021 and oversaw its sale to Bank of Ireland, announced his intention to leave the firm last year

Pension fund assets hit five-year high as member numbers also rise

Central Bank data says average Irish occupational fund is now worth just over €80,000

Central Bank tells Government directly to change budgetary stance

Financial regulator warns Coalition it would not be appropriate to continue with an expansionary fiscal stance over the period 2024-2026

Mortgage rules spark war of words between Central Bank and ESRI

ESRI claims regulator’s move to relax rules has fuelled house price growth and lifted loan-to-income ratios back to Celtic Tiger levels

Makhlouf fires back at ESRI over mortgage rules criticism

Think tank had called central bank’s move to ease mortgage limits ‘premature’

Irish mortgage rates fall marginally in April

Interest rates attached to home loans are expected to fall over the coming months as ECB reduces headline rates

From crisis-era mandarin to State’s first directly-elected mayor, who is John Moran?

The former lawyer, banker and at one time the State’s most recognisable civil servant has been elected the country’s first directly-elected mayor in Limerick

There is one thing that will make Irish banks move on rates, and it’s not Simon Harris

Ireland’s politicians could not resist a bit of bank-bashing in an election week

With almost 100 regulators, are there too many watchdogs in the State?

Some regulatory bodies believe their underpinning legislation has fallen behind advances and developments in the sectors they oversee

WeWork opens for business at One Central Plaza

Central Bank’s former Dame Street headquarter office gets new lease of life as flexible workspace giant finally takes over

Central Bank rules will make cost of mortgage incentives clear to consumers

Compliance professionals say toughening up of 12 year old consumer protection code is very timely and much needed

Central Bank to set up ‘sandbox’ programme for fintechs to test new products

Regulator does not plan to offer firms any derogations or waivers from regulatory requirements

‘Ireland is good in a crisis but can’t manage success’, says crisis era mandarin

Former secretary general of the Department of Finance John Moran is standing as a candidate to be Limerick’s first directly-elected mayor

Don’t believe the Government spin, we will never get our bank bailout money back

The State did not invest in AIB, it was forced to bail out the system with borrowed money. Any decision to sell its remaining shares must be informed by investment logic not just ideology

Passing up the chance for a risk-free return on your savings is madness

Simply by moving money to notice accounts or fixed term deposits, you can improve your return by up to a factor of 30

Card data suggests it’s not all doom and gloom in the hospitality sector

Central Bank figures show card spending on social activities such as entertainment, dining out and memberships is growing faster than overall average

Makhlouf warns on risk to financial system from non-bank sector

Central Bank of Ireland governor speaking in Washington in advance of International Monetary Fund and World Bank meetings

Total loans outstanding to credit unions rose 12% to €6.3bn last year

Representative bodies have appealed to the Central Bank for a number of changes to credit union lending framework

Number of Irish mortgages in arrears increases slightly in final quarter of 2023

Overall increase driven by rise in number of principal dwelling house mortgage accounts in arrears for less than one year

First person ever convicted of insider trading in State fined €70,000

Garda National Economic Crime Bureau investigated shares in Open Orphan, an Irish pharmaceutical company listed on the London Stock Exchange

Irish banks’ on-demand deposit rates hit eight-year high ... of 0.13%

Lenders count on most customers keeping their money in on-demand accounts

Should banks be on the hook for access to cash into the future here?

Inside Business podcast with Ciarán Hancock

Central Bank predicting boon for workers as wage rises catch up with inflation

Regulator is forecasting that real wages for the average employee will rise by almost 9 per cent over the next three years

Regulator proposes ‘beefed-up’ consumer protection

Central Bank publishes consultation paper on reformed consumer protection code for the digital age

Central Bank calls for cash to be safeguarded in national payments plan

The Central Bank’s deputy governor said policy should ensure reductions in cash infrastructure by the private sector ‘do not outpace society’s needs’

Goodbody fined €1.23m by Central Bank for breach of market abuse laws

Central Bank found Goodbody had failed to put in place an effective framework to monitor suspicious trading activity

Smurfit Kappa tops the shorting list on Irish stock exchange

Interest likely to die down in near future

When Grace lost €6,412 in a scam, she asked her bank for help. Here’s what happened

Pricewatch: ‘How on earth can a refund be achieved if there is no investigative fraud unit?’

Vulture fund regulation ‘loophole’ exposes borrowers, Central Bank admits

Regulator will work with Financial Services Ombudsman to ‘close gap’, deputy governor Derville Rowland says

High Court confirms appointment of liquidators to prepaid card firm

Despite its position, the company, which remains solvent, expects to be in a position to pay all of what it owes its creditors

Will banks entertain a mortgage to our son on top of a big family loan?

Q&A: If priority is to facilitate son’s ability to buy a home, structure of family financing might need a second look

Card payments using mobile phones jump by 26 per cent in December

Total card spending in December rose by 5.4 per cent to €8.8 billion, boosted by Christmas retail and social spending

‘It’s a fool who turns down money’

Inside Business podcast with Ciarán Hancock

If people are buying with their cards, why do they still want to keep cash?

We have steadily been moving to online shopping and digital payments, but cash continues to circulate widely

Prepaid cards group’s demise highlights regulatory gap in Dublin e-money hub

Central Bank lacks power to petition High Court to have liquidators appointed to ailing e-money companies such as PFS Card Services Ireland Limited

Wage growth eased to 3.7% in December, report finds

Annual wage growth in the euro area, UK and US slows in final months of 2023 and is expected to continue to moderate in 2024

Has the Galway hotel fire lit a match under the culture wars?

Ireland has thrived from its openness. If this changes it will be hugely costly

Ban on insurers penalising customer loyalty ‘working effectively’

Central Bank review found customers are no longer paying a ‘penalty’ for sticking with their providers

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