Central Bank of Ireland COVID-19 - Prudential Regulatory Flexibility Measures
Kenneth Owens FCA, MInstD, LIB
Strategic Advisor, Non-Executive Director, Mentor, Chartered Accountant and former Asset and Wealth Management Audit and Regulatory Advisory Partner
The Central Bank of Ireland has issued an update on 17 April to outline the changes it is implementing and the flexibility it is allowing for firms as a result of the ongoing Covid-19 crisis.
In each case as set out below.
The Central Bank is applying a level of flexibility in relation to the deadlines for remedial actions/measures. The following covers those remedial actions/measures related to prudential banking supervision only.
The links below will guide you to the relevant section of the CBI's website where details of applicable extensions and postponements, as well as details of the Central Bank's application of relevant announcements made by the European Supervisory Authorities are set out:
- Credit institutions
- Credit unions
- Insurers and reinsurers
- Securities markets, investment management, investment firms and fund service providers.
The Central Bank has advised that it will continue to review its approach to regulatory flexibility throughout the duration of the COVID-19 pandemic and may provide further updates as required.
Independent Non Executive Director and Chairperson at International Financial Markets
4yThanks for sharing Ken