Credit, Collections & Insolvency News
There was a slight fall in the number of debt judgments recorded in the Ireland during the first half of the year, according to figures released today by Registry Trust. There were 1,117 judgments registered against consumers in the first six months of 2017, only one percent higher than the same period last year. But…
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The Central Bank of Ireland has released Ireland’s Money and Banking Statistics for June 2017. Here is an overview of the main findings. Irish resident household deposits increased by €1 billion during June 2017 to stand at €99.5 billion. The annual growth rate in the series is now 3.7 per cent, the highest seen since 2008.…
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The Irish Central Bank has announced two senior appointments. The Central Bank appointed Ed Sibley as Deputy Governor, Prudential Regulation and Derville Rowland as Director General, Financial Conduct. As Deputy Governor, Prudential Regulation, Sibley will be responsible for the supervision of credit institutions, insurance firms and the asset management industry. Prior to this appointment, Sibley was…
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The number of mortgage approvals in Ireland rose by 35 per cent over the year to May 2017, according to new figures from the Banking & Payments Federation Ireland (BPFI). The BPFI Mortgage Approvals Report shows 4,124 mortgages were approved in May 2017. Some 2,148 (52.1 per cent of total volume) were for first-time buyers…
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Consumer loans advanced by Irish banks exceeded repayments by €162 million in the three months to end- May 2017, continuing a trend evident since early-2016. These types of loans typically include car loans, furniture, domestic appliance and holiday loans; with overdrafts and credit cards also included. Credit card debt represented approximately 20 per cent of…
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Monday 26th June saw the implementation date for the fourth EU Money Laundering Directive (MLD4); time to see if preparations are up to scratch or whether a flurry of FCA fines will be issued. John Marsden, Head of ID and Fraud at Equifax said“The rise in high-profile fines for failing to maintain money laundering defences…
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One out of every 10 Irish borrowers is in some form of arrears on their mortgage. A total of 76,400 mortgages on homes were in arrears in the first three months of this year, new Central Bank of Ireland figures show. Of the total in arrears, almost 34,000 mortgage accounts are more than two years…
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The Central Bank of Ireland has released Ireland’s Money and Banking Statistics for April 2017. Drawdowns of consumer loans exceeded repayments by €158 million in April, the largest monthly increase since January 2011. The new lending largely comprises medium term loans, which typically include car loans, furniture and holiday loans. Here is an overview of the latest…
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Irish regulator, The Central Bank of Ireland has fined the Bank of Ireland (BOI) €3,150,000 by the Central Bank of Ireland in respect of anti-money laundering (AML) and terrorist financing compliance failures. The Central Bank of Ireland reprimanded BOI for twelve breaches of the Criminal Justice (Money Laundering & Terrorist Financing) Act, 2010 (the ‘CJA…
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Cabot Credit Management (CCM) has announced its financial results for the three months ending 31 March 2017. As part of the results, Cabot announced that it has acquired Orbit Debt Collection, a UK based debt contingency business who specialises in the Utilities sector. In addition, Cabot has also obtained regulatory approval for the Irish business, Cabot Financial Ireland,…
Read moreThe Central Bank of Ireland has published its latest Household Credit Market Report. The report collates information from internal and external sources to give an up-to-date picture of developments in the household credit market in Ireland. The report finds that Irish households continued to reduce their debt-to-income and debt-to-asset ratios during Q4 2016 but indebtedness…
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The Central Bank of Ireland has released its latest Credit and Debit Card Statistics from Quarter 1 in 2017. Here is an overview of the key statistics in the report Debit card point of sale spending in March increased 14 per cent on the same month in 2016. In March 2017over €2.7 billion of debit card…
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The Central Bank of Ireland has published a consultation paper on the investment framework for credit unions. Under existing regulations, credit unions can invest in a range of specified investment classes. These include government securities, bank deposits, bank bonds and collective investment schemes made up of these instruments. These are subject to specified maturity and…
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