Banking Regulation 2022

Introduction

Ireland, similar to the rest of the world, has continued to face the many societal, financial and regulatory changes that have arisen as a result of the COVID-19 pandemic. As well as providing customer-focused supports, the Central Bank of Ireland (the CBI) has permitted banks to use capital buffers built up over recent years to support the Irish economy. Since 2011, the Government has enacted a broad range of primary and secondary legislation to address structural issues that arose prior to 2008, to provide more consumer protection and to ensure greater oversight, stability and sustainability of the Irish banking sector. The restructuring of the Irish banking sector since 2011, which included the creation of more robust capital buffers, allows a degree of flexibility to the CBI and the Irish banks in their ability to support Irish banking customers at this time.