Introduction to Irish financial regulation

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This subtopic provides guidance on financial services compliance in Ireland.

This subtopic contains the following guidance:

  1. •

    Practice Note: Ireland—Central Bank (Individual Accountability Framework) Act 2023—policy

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Latest Ireland - Banking & Financial Services News

EBA publishes framework for 2025 EU-wide stress test

The European Banking Authority (EBA) has published the final methodology, draft templates, and template guidance for its 2025 EU-wide stress test. The exercise is set to commence in January 2025 with multiple submission rounds between April 2025 and July 2025. Results are scheduled for publication in early August 2025. The EBA has adjusted the timeline to accommodate industry feedback and the entry into force of the revised EU Capital Requirements Regulation and EU Capital Requirements Directive (EU CRR III /EU CDR VI).

EBA consults on guidelines for proportionate retail diversification methods in credit risk assessment

The European Banking Authority (EBA) has published a consultation paper on draft guidelines specifying proportionate retail diversification methods for the preferential risk weight under the standardised approach for credit risk. The proposed guidelines aim to establish criteria to assess under which circumstances, retail exposures can be considered as diversified under the credit risk standardised approach for determining capital requirements in the Capital Requirements Regulation (CRR). Responses are due by 12 February 2025.

EIOPA consults on mass-lapse reinsurance and termination clauses to enhance risk mitigation guidance

The European Insurance and Occupational Pensions Authority (EIOPA) has launched a consultation on two proposed annexes to its 2021 Opinion on risk mitigation techniques. The first annex provides supervisory guidance on the treatment of mass-lapse reinsurance and the second annex focuses on reinsurance termination clauses that may compromise effective risk transfer. Responses are due by 7 February 2025.

EU due-diligence reporting duties to be simplified with an ‘omnibus’ regulation

MLex: EU sustainability reporting duties included in the Taxonomy Regulation or the Corporate Sustainability Due Diligence Directive will be simplified through an ‘omnibus’ regulation, European Commission President, Ursula von der Leyen, said on 8 November 2024. The new law will group ‘the questions we are asking’ EU companies and the ‘data points we are collecting, often redundant, often overlapping’, according to von der Leyen.

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