Central Bank of Ireland

Basic Information

The Central Bank of Ireland (CBI), known in Irish as Banc Ceannais na hÉireann, serves as Ireland’s central banking authority and primary financial regulator. Established in 1943, it operates under the Eurosystem as part of the European Central Bank (ECB) framework. The CBI oversees monetary stability, financial regulation, and consumer protection in Ireland, ensuring compliance with both national and EU financial laws.

Historical Background

The Central Bank of Ireland traces its origins to the Currency Commission, which managed Ireland’s monetary system after independence. The Central Bank Act 1942 formally established the institution, though it initially functioned as a currency board rather than a full central bank. Over time, its role expanded, particularly after Ireland joined the European Monetary System (EMS) in 1979 and later adopted the euro in 1999. Today, the CBI operates under the ECB’s Single Supervisory Mechanism (SSM), supervising significant financial institutions alongside European authorities.

Legal Authority and Regulatory Framework

The CBI derives its regulatory powers from multiple legislative sources, including:

• The Central Bank Acts 1942–2021
• EU financial regulations under the ECB and SSM
• The Consumer Protection Code 2025
• The Credit Reporting Act 2013

It enforces compliance through risk-based supervision, administrative sanctions, and enforcement actions against firms violating financial regulations.

Key Responsibilities and Regulatory Scope

The Central Bank of Ireland’s core functions include:

• Monetary Policy: Implements ECB interest rate decisions and manages euro liquidity.
• Financial Regulation: Supervises banks, insurers, investment firms, and payment institutions.
• Consumer Protection: Enforces fair lending practices and transparency in financial services.
• Market Integrity: Monitors compliance with anti-money laundering (AML) and market abuse regulations.
• Enforcement: Investigates misconduct, imposes fines, and revokes licenses when necessary.

Contact Information

Headquarters Address:
Central Bank of Ireland
New Wapping Street, North Wall Quay
Dublin 1, D01 F7X3
Ireland

General Inquiries:
Phone: +353 (0)1 224 6000
Email: [email protected]

Consumer Complaints:
Phone: +353 (0)1 224 5800
Email: [email protected]

How to Verify a Firm’s Regulatory Status

To confirm whether a financial institution is regulated by the Central Bank of Ireland:

1. Visit the Registers section on the CBI website.
2. Search by firm name, registration number, or authorized activity.
3. Check for active status, regulatory permissions, and any enforcement actions.

Consumers can also request credit reports via the Central Credit Register for additional verification.