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ARTICLE · 06 APRIL 2020

Guide To Banking Regulation 2020 In Ireland

Dillon Eustace
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Dillon Eustace

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Following the banking crisis (2008–2011), the Irish State went through a process of significant fiscal adjustments and structural changes to the banking sector

IrelandFinance and Banking
Keith Waine
Keith Waine
Keith Robinson
Keith Robinson
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Introduction

Following the banking crisis (2008–2011), the Irish State went through a process of significant fiscal adjustments and structural changes to the banking sector through the introduction of various banking sector supports including a State guarantee of certain liabilities in specified banks and through the State-funded capitalisation of certain domestic banks. In late 2010, the State entered into an EU IMF programme of financial support for Ireland worth €85 billion (the Programme). The restructuring mandated by the terms of the Programme, included the recapitalisation of certain domestic banks, a deleveraging programme, the introduction of consumer protection initiatives (including the modification of personal insolvency laws) and the development of a comprehensive credit-reporting regime. Relatively high levels of personal debt remain and Ireland is currently suffering a shortfall in housing availability.

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