Financial sector to stump up cost of regulation by 2024, Central Bank says

Irish Times | Jun 14, 2019 at 1:45 PM
  • The Central Bank of Ireland has agreed a new approach to financial regulation whereby the taxpayer will no longer stump up costs for policing the sector in a move that will see the industry wholly fund its own regulation by 2024.
  • This year, credit unions are expected to pay 20 per cent of the cost of regulation, rising to 35 per cent next year and 50 per cent by 2021.
  • The cost of regulating the 277 credit unions that existed in 2018 totalled €1.68 million.