CP159 - Consultation on Proposed Changes to the Credit Union Lending Regulations

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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:

1. Concentration limits for house and business lending; and
2. 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.

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Consultation Paper Document

CP159 Consultation on Proposed Changes to the Credit Union Lending Regulations | pdf 931 KB