The Central Bank of Ireland has published a peer review undertaken by the International Credit Union Regulators’ Network (ICURN).
The publication – Peer Review: Central Bank of Ireland’s Performance of its Regulatory Functions in Relation to Credit Unions – assessed the Central Bank’s compliance with ICURN’s Guiding Principles for Effective Supervision of Financial Cooperative Institutions and Enhancing Governance of Cooperative Financial Institutions.
The review found the Central Bank remains effective in performing its functions in the regulation and supervision of the credit union sector. The publication highlighted important improvements since the last review in 2019, and also set out recommendations to further improve supervisory effectiveness and achieve full compliance with the ICURN Guiding Principles. The review was undertaken in 2023 by an international team of ICURN regulators drawn from the US, the UK and South Africa. The review provides an assessment of Ireland’s legislative, regulatory and supervisory framework for credit unions.
The Peer Review can be found here Read More
The ILCUs response can be found here Read More