The Central Bank of Ireland has published a consultation paper (CP76) on the introduction of a tiered regulatory approach for credit unions. The introduction of a tiered regulatory approach for credit unions was one of the recommendations contained in the 2012 Report of the Commission on Credit Unions (March 2012).
The consultation paper on the tiered regulatory approach seeks the views from credit unions and other sector stakeholders on:
- the proposed approach to tiering;
- the high level operation of the tiers, including the activities and services proposed for credit unions in each tier;
- proposals on a provisioning framework for credit unions; and
- the appropriate timing for the introduction of a tiered regulatory approach for credit unions.
Interested parties are asked to make submissions to the central bank on the public consultation by 28 February 2014. Submissions received, along with a feedback statement, will be published on www.centralbank.ie.
Please click on the link for consultation paper (CP76)