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Some consumers facing higher mortgage rates have no other options on lenders

Warning of unsustainable mortgages due to rising rates

The Central Bank faced strong criticism from some TDs at the Oireachtas Finance Committee yesterday over the higher mortgage rates being paid by customers whose loans were sold to investment funds.

Business • 26 Jan 23

The total number of accounts closed last year at Ulster Bank and KBC Bank Ireland came to a total of 614,875

923,632 new bank accounts opened last year

New figures from the Central Bank show that a total of 361,790 current accounts remained open in Ulster Bank and KBC Bank Ireland at the end of December, as the two banks continue the withdrawal process from the country.

Business • 24 Jan 23

William Molloy has been appointed Chief People Officer (CPO) and Robert Kelly as Director of Economics and Statistics

Central Bank announces two new appointments

The Central Bank of Ireland has appointed William Molloy as Chief People Officer (CPO) and Robert Kelly as Director of Economics and Statistics.

Business • 23 Jan 23

The number of households in receipt of inheritances has gone up over time, new Central Bank research show

Over one third of households have received inheritances

Research published by the Central Bank today reveals that over one third of households in Ireland have received an inheritance. The accumulated value of these inheritances is estimated to be worth €97 billion.

Business • 19 Jan 23

The Note further finds that bank exposure to energy-intensive households is likely to be sizeable

Targeted energy efficiency supports needed

Research by the Central Bank examining the potential impact of long-run energy price rises on mortgaged households shows households with low incomes and larger properties, and those residing in rural locations, are significantly more vulnerable.

Business • 12 Jan 23

New rates here are the third cheapest in the euro area after Malta and France.

New Irish mortgage rates 3rd lowest in euro area

Interest rates on new mortgages remained unchanged in November, according to the latest figures from the Central Bank.

Business • 11 Jan 23

Point of sale spending in-store accounted for 52% of spending during November

Debit and credit card spending rose 9% in November

There was a 9% increase in debit and credit card spending in November compared to the previous month as consumers began preparing for Christmas, according to the latest data from the Central Bank.

Business • 06 Jan 23

Coinbase has been active in Ireland since 2018

Coinbase secures regulatory approval from Central Bank

Cryptocurrency exchange Coinbase said today it has successfully registered with the Central Bank as a Virtual Asset Service Provider (VASP).

Business • 21 Dec 22

Today's Central Bank figures show that number of mortgages in arrears fell by 1% in the third quarter of 2022 to 45,746

Level of mortgage arrears at lowest level since 2010

New figures from the Central Bank show that 4.3% of all home mortgage accounts were in arrears over 90 days at the end of September - representing 30,809 mortgage accounts.

Business • 16 Dec 22

The average interest rate on new mortgages in Ireland decreased by one basis point to 2.57% in October

Irish mortgage rates fall below euro zone average

The average interest rate on new Irish mortgages moved below the euro area average for the first time since 2017, new figures from the Central Bank show today.

Business • 14 Dec 22

New Central Bank figures show that 558,636 accounts have been shut, leaving a total of 647,780 at the end of November still open

Less than half of departing bank accounts closed so far

The rate at which customers of Ulster Bank and KBC Bank Ireland are closing their accounts slowed last month, according to the latest data compiled by the Central Bank.

Business • 13 Dec 22

AXA Life Europe is an insurance business authorised by the Central Bank to sell life insurance

AXA Life Europe fined €3.64m by Central Bank

The European life assurance and pensions arm of the AXA Group has been fined €3,640,000 by the Central Bank for a series of regulatory breaches.

Business • 09 Dec 22

The analysis found that by adding a reminder letter it could have a particular impact in driving increased refinancing rates.

Refinancing mortgage can save you €1,209 in first year

Borrowers who refinance their mortgages can earn average savings of €1,209 in the first year, new research by the Central Bank has found.

Business • 08 Dec 22

Central Bank Governor Gabriel Makhlouf speaking at an IIEA event today

At least 0.5% ECB rate rise needed, says Makhlouf

The Governor of the Central Bank has said he sees a 50 basis point increase in interest rates as the minimum needed at the ECB's December meeting.

Business • 05 Dec 22

The decline was driven by a fall in spending on services, while spending in the retail sector increased.

Credit and debit card spending drops in October

Spending on debit and credit cards fell in October, according to figures published by the Central Bank.

Business • 30 Nov 22

The Central Bank is to increase the level of reserves banks must keep as a part of a process announced in June

ECB will increase rates again in December - Makhlouf

The Governor of the Central Bank has said the European Central Bank will increase interest rates at its meeting next month but he had "an open mind" on what scale that should be.

Business • 24 Nov 22

The group has offices in Dublin, Cork and Galway along with a branch in the UK.

Goodbody Stockbrokers probed over alleged rule breaches

The Central Bank has begun an investigation into an alleged contravention of market abuse regulations at Goodbody Stockbrokers.

Business • 23 Nov 22

The Central Bank said firms should consider the risks to consumers as a result of the more challenging economic outlook, inflation, rising interest rates and much higher consumer prices and business costs

Cost of living: banks advised on how to treat customers

The Central Bank has written to all regulated firms to reaffirm its expectations on how they treat consumers during the current cost of living crisis.

Business • 18 Nov 22

The Central Bank said it must receive accurate and complete information from fund managers

Regulator fines fund manager €117,600 for breaches

The Central Bank has fined Mercer Global Investments Management Limited (MGIM) €117,600 and reprimanded it for six breaches of investment fund regulations.

Business • 16 Nov 22

The latest figures from the Central Bank show that 23,000 business current accounts were still open with the exiting banks at the end of last moth.

SMEs urged to take action on switching bank accounts

Banking and Payments Federation Ireland is urging small and medium sized businesses that have their current accounts with Ulster Bank and KBC to take action, as the two banks prepare to leave the Irish market.

Business • 15 Nov 22

Compared to 2009, the average earned premium last year was 23% higher

Profits at motor insurers rose to record €176m in 2021

Motor insurers here saw their combined operating profits increase to a record level for the fifth straight year in a row last year, as lower levels of activity on the roads due to the pandemic led to fewer claims.

Business • 15 Nov 22

At end of last year, lenders had classified 15,000 or 55% of all accounts in long-term arrears as not co-operating

Many in long-term mortgage arrears not making payments

New Central Bank figures show that over half of mortgage accounts in long-term arrears made no repayment towards their mortgage over the past two years.

Business • 11 Nov 22

The Central Bank says there is a need to remain vigilant of the risks of high inflation

Vital to remain vigilant of high inflation - Donnery

The Central Bank's Deputy Governor Sharon Donnery has highlighted the need to remain vigilant of the risks of high inflation.

Business • 10 Nov 22

The average rates on new mortgage agreements in September was 2.58%, down 0.06% on August.

Irish mortgage rates ease in September - Central Bank

Irish mortgage rates are now no longer the most expensive in the euro area but are still just above the euro area average, new Central Bank figures show.

Business • 09 Nov 22

The study also finds that wage growth may have levelled off in some countries

Wages rise at over three times pre-Covid rate - study

Wages are going up at more than three times their pre-pandemic rate across euro area countries, according to a new study published by the Central Bank.