CP159 - Consultation on Proposed Changes to the Credit Union Lending Regulations
Overview
Description
The Central Bank of Ireland is publishing this
consultation paper to consult on proposed changes to the credit union lending
regulations set out in Part 4 of the Credit Union Act 1997 (Regulatory
Requirements) Regulations 2016
The Central Bank is proposing a number of targeted
material changes to the credit union lending regulations in the following
areas:
- Concentration limits for house and business lending;
and
- Lending practices for specific categories of lending.
The proposed changes have been informed by the Central
Bank’s statutory mandate in relation to credit unions as set out in section 84
of the Credit Union Act, 1997 which requires that the Central Bank administer
the system of regulation and supervision of credit unions with a view to (i)
the protection by each credit union of the funds of its members, and (ii) the
maintenance of the financial stability and well-being of credit unions
generally.
CP Number :
CP159
Date :
11 December 2024
Closing Date :
11 February 2025
Consultation Paper Document
CP159 Consultation on Proposed Changes to the Credit Union Lending Regulations | pdf 931 KB