Central Bank aims to make financial institutions pay full cost of regulation

Independent.ie | Jun 14, 2019 at 2:44 PM
  • THE Central Bank says it hopes to make all financial institutions in Ireland pay the entire cost of their own regulation within the next five years, a move that would save taxpayers tens of millions annually.
  • AIB and Permanent TSB – already repay the full costs of their regulation and supervision via levies, hundreds of other institutions from foreign-owned banks to corner credit unions currently repay only a portion of the State’s financial policing bills.
  • In 2018, the cost of regulating Ireland’s financial institutions totalled €213m, 15pc higher than in 2017.