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New Anti-Money Laundering Reform in Ireland

Banks in Ireland have adopted what some consider to be “radical” reform measures from the EU. These new regulations regard anti-money-laundering guidelines that would have the bloc oversee the riskiest of firms and crypto traders.  The newly established authority of 250 employees will look for any transactions occurring across border lines that they find to …

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How Irish Citizens Have Reacted to the New Mortgage Limitations

Housing prices in Ireland continue to rise, the Central Bank is called to take action. The bank has limited the size of mortgages given to people buying a home, leaving many people frustrated. The lending rules restrict people or couples from borrowing 3.5 times their collective income. In addition, first-time buyers must reach a minimum …

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Is Europe Embracing CBDCs?

Many central banks spanning the globe have advanced the concept of the implementation of central bank digital currencies (CBDCs) in their regions. Interest has been demonstrated by the European Central Bank (ECB) and it has even released a report elaborating on the danger of not establishing CBDCs.  Recently, the Spanish Socialist Party (PSOE) of Spain …

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Central Bank is Urged to Release Review on Mortgage Lending Rules

Táinaste Leo Varadkar urged the Central Bank to release its review on mortgage lending regulations as quickly as possible. These regulations were initially put in place to stabilize the system following a financial crash and to prevent any future banking crises. Currently, these regulations broadly limit the total borrowing to 3.5 times an individual’s income, …

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Central Bank Issues Warning of Exit Shock

As the pandemic winds down, government support measures will soon begin to be retracted. Thinking ahead, the Central Bank has issued a warning for the possibility of exit shock as government support is removed. It is especially concerned that an abrupt removal of support could potentially lead to many bankruptcies and mortgage arrears.  The extent …

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Central Bank Profits Decline in 2020

On Wednesday, June 2, the Central Bank of Ireland published the 2020 Annual Report and Annual Performance Statement. The bank reported a profit decline of 67% in 2020. These reports state that total profit fell €829.6 million from €2.56 billion in 2019. One of the major requirements of the Central Bank is to transfer 80% …

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