Other Requirements

Dormant Accounts

A dormant account can be an account on which there has been no transaction by the account holder for 15 years or more in: a deposit, share or current account in a bank or building society, a deposit receipt or fixed deposit; or, an account, saving certificate, savings bond or instalment saving scheme with An Post.

Industry Funding

Each credit institution category shall be liable to pay the levy contribution corresponding to its impact category.

Supervisory Disclosures

In accordance with CRD IV articles 143(1) and 144, the Central Bank of Ireland will publish:

  • The texts of laws, regulations, administrative rules and general guidance adopted by Ireland;
  • The exercise of options and national discretions;
  • The general criteria and methodologies used by the SREP process;
  • Aggregate statistical data on key aspects of the implementation of the prudential framework;
  • Specific disclosures per Article 144, as applicable.

Asset Covered Securities

The Central Bank of Ireland is obliged to make certain disclosures, in accordance with Section 11B (1) of the Asset Covered Securities Act 2001 (No. 47 of 2001), please refer to our Register of Designated Credit Institutions and Regulatory Requirements and Guidance webpage for further information.

Section 8 of the Central Bank Act 1971

The Central Bank’s power to grant an exemption pursuant to Section 8 of the Central Bank Act 1971 is discretionary, and the Central Bank will apply proportionality in its assessment of each application. The Central Bank will expect applicants to have a strong business case as to why the use of the word ‘bank’, ‘banker’, ‘banking’ or some other variant, derivative or translation of, or word analogous to any of those words, is appropriate given all the circumstances of the case. All applications will be subject to a case by case assessment, however, you may wish to note the following:

  • Exemptions will be only granted on an exceptional basis, e.g. for food banks, or where the word ‘bank’ appears in a place-name, where there is minimal risk for members of the public to mistakenly believe that the services being provided by the applicant are in the nature of services typically provided by a bank;
  • In general, exemptions will not be granted to firms operating in the financial services sector, in the main, due to the fact that firms such as these hold the highest risk that a consumer or other type of business may incorrectly assume that the firm is providing services typically provided by a bank.