Introduction to the Industry Funding Levy

The Central Bank Reform Act, 2010 confers on the Central Bank of Ireland the power, with the approval of the Minister for Finance, to make Regulations prescribing an annual Industry Funding Levy ('the levy') to be paid by regulated financial service providers to the Central Bank of Ireland. The purpose of this levy is to fund the relevant proportion of the cost of the annual budget for financial regulation. The balance is funded by the Central Bank of Ireland.

Following a consultation process, the Central Bank introduced in 2013 a revised approach to the levy calculation process designed to more closely align the funding, by regulated financial service providers, of the costs of financial regulation on a basis consistent with the deployment of its supervisory resources. Further details of these changes can be found in the 2013 Guide to Industry Funding Regulations.

For information on the most recent levies issued to regulated financial service providers please see the Funding Strategy and Guide To Industry Funding Regulations 2018.

Funding the Cost of Financial Regulation activity

Funding the Cost of Financial Regulation | pdf 190 KB

Who is liable to pay?

Any financial service provider who is authorised and regulated by the Central Bank of Ireland on 31 December of a given year is liable to pay the levy for the following year. In addition, a financial service provider that become authorised during the course of a levying year will be liable to pay a levy for the period for which it holds the authorisation in that year.

For example: a firm holding an authorisation as a financial services provider on the 31 December 2017 will be liable to pay the 2018 levy.

Levy categories

For the purposes of calculating its annual levy, a financial services provider is classified as falling within a particular ‘levy category’, according to the type of business it is authorised to undertake.

For example: firms authorised to provide retail intermediary services will fall within category C.