The Central Bank of Ireland has published its second Quarterly Bulletin of 2020, which focuses entirely on the impact of the Covid-19 pandemic. In terms of its impact on the economy, Covid-19 has triggered a severe economic shock that is fundamentally different in nature and scope from types of shocks previously witnessed. For the Irish…

The outlook for the debt purchase market remains positive, despite there being a temporary pause in the supply of debt portfolios according to d bt resolution specialist, Hoist Finance. Chief Executive Officer Klaus-Anders Nysteen says he anticipates that banks will continue to divest portfolios and will do so at an earlier stage than historically.  “The…

Debt resolution specialist, Hoist Finance has announced its new sustainability strategy, which outlines the company’s Environmental, Social and Governance (ESG) goals and indicators.  Through a bottom-up process, integrating feedback and insight from employees throughout the whole organisation, Hoist Finance developed a sustainability strategy focused on four core pillars: contributing to an inclusive financial ecosystem, creating…

The Central Bank of Ireland has announced further measures in order to support the economy, firms and households through the economic shock arising from COVID-19. The Central Bank says it has decided to release a capital buffer that banks are required to hold in order support the continued provision of credit to households and businesses,…

A new study has found that 33% of renters in the private sector, who are in debt, are now overburdened by debt repayment and nearly 28% face utility arrears.The study, from TASC (Think Tank for Action on Social Change), also reveals that only 40% of renters are able to save income on a regular basis.…

The Central Bank of Ireland has reprimanded and fined Ulster Bank (Ireland) DAC €4.6 million for governance failings relating to regulatory returns that were required under the Mortgage Arrears Resolution Targets (MART) Framework. The firm has admitted to these breaches, which took place from 2013 until 2015. The Central Bank determined that the appropriate fine…

Ireland’s The National Asset Management Agency (NAMA)  has announced that it has repaid its remainder of its €1.064 billion of outstanding debt. The final transaction will complete the redemption of the €1.593 billion of subordinated debt originally issued by NAMA during 2010 and 2011. This subordinated debt accounted for 5% of the total amount of…

Mastercard has announced it is developing its first European Cyber Resilience Centre, a state-of-the-art cyber and security centre in Europe that will drive collaboration between both public and private sectors, as well as regulatory bodies to further support enterprise resilience in the region. Located in Waterloo, Belgium at Mastercard’s European Headquarters, the centre is the…

Challenger bank N26 has announced that it will exit from UK banking market. The banks says that with the UK having left the European Union, that it will be leaving the UK market. The timings and framework outlined in the EU Withdrawal Agreement mean that the company will in due course be unable to operate…

There was a 20 percent rise in the number of judgments recorded against consumers in the Republic of Ireland in Q4 2019, compared to the same period last year, figures released by registrar Irish Judgments show. Consumer judgment numbers rose from 516 in Q4 2018 to 618 Q4 2019, while the total value grew by…

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