When will limits come into force?

[Butter]

Does anybody know when the CB will announce what it's going to propose/implement? The consultation period ended yesterday so I wonder when there will be an announcement?

 

[Brendan Burgess]

Hi Butter

They are supposed to be effective from 1 January, but I very much doubt that they will have even finished reading the submissions by then.

Having said that, on Friday I asked for an extension of the deadline, and got the following reply:

The Central Bank has committed to keeping the period of uncertainty after the closing of the consultation as short as possible. It is important that we confirm as quickly as possible, depending on the complexity of responses to the consultation we receive, what the final regulations will look like. In order to do this, and to ensure that we fully and carefully review and consider all submissions and adjust the regulations accordingly, we cannot accept late submissions.