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An interview with Derville Rowland, Director of Enforcement at the Central Bank, published this morning.
Ireland’s central bank flexes regulatory muscles
Enforcer holds lenders to account with fines and humiliation
https://www.ft.com/content/b67a2146-c7a3-11e6-9043-7e34c07b46ef
“Fines alone are not sufficient,” she says. “It’s the detailed information about the case that tells the story of what happened.” What she calls the “signalling” effect of such public disclosure “can often be the most uncomfortable for firms and individuals. It is the key to successful enforcement.”
The article mentions that 'Much of the central bank’s attention for the next two years is likely to be consumed by the resolution of [broken link removed] in the mortgage lending market, in particular the case of “tracker” mortgages, where interest rates follow those of the European Central Bank.'
Ireland’s central bank flexes regulatory muscles
Enforcer holds lenders to account with fines and humiliation
https://www.ft.com/content/b67a2146-c7a3-11e6-9043-7e34c07b46ef
“Fines alone are not sufficient,” she says. “It’s the detailed information about the case that tells the story of what happened.” What she calls the “signalling” effect of such public disclosure “can often be the most uncomfortable for firms and individuals. It is the key to successful enforcement.”
The article mentions that 'Much of the central bank’s attention for the next two years is likely to be consumed by the resolution of [broken link removed] in the mortgage lending market, in particular the case of “tracker” mortgages, where interest rates follow those of the European Central Bank.'
