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ARTICLE · 14 JUNE 2024

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Central Bank welcomes outcome of Peer Review by the International Credit Union Regulators' Network

IrelandFinance and Banking
Matheson LLP
Matheson LLP
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1. Credit Union Updates: Central Bank welcomes Peer Review by the ICURN/ Credit Union News

Central Bank welcomes outcome of Peer Review by the International Credit Union Regulators' Network

On 28 May 2024, the Central Bank published a peer review undertaken by the International Credit Union Regulators' Network ("ICURN"). The review, entitled, 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 ("Review").

  • The Review, which is the third peer review conducted by ICURN, found the Central Bank remains effective in performing its functions in the regulation and supervision of the credit union sector. The review provides an assessment of Ireland's legislative, regulatory and supervisory framework for credit

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