How we recognize risk and act to guarantee monetary stability.

Financial System Overview

Money, notes and coins
Macroprudential Policy
Countercyclical Capital Buffer

• Financial System Overview
• Financial Stability - Financial Stability Overview
• Macroprudential Policy
• Financial Stability Research
• Risks for Financial Stability
• Market Based Finance Monitor
• Financial Stability Committee
  
  - Payments and Securities Settlements Overview
• Catalyst
• National Competent Authority
• National Stakeholder Groups
• Oversight
• TARGET Services
• Payments Systems Approval Process
• Single Euro Payments Area
• Irish Retail Payments Forum
  
  - Operational Resilience and Cyber Overview
• Operational Resilience
• Cyber Resilience
  
  - Climate Change Overview
• Economic and Financial Interlinkages
• Financial Regulation and Supervision
• International Engagement
• The Reserve Bank and Sustainability
• Planning for shift to net absolutely no
  
  Maintaining price stability as part of the Eurosystem.
  
  Monetary Policy Overview
  
  - Monetary Policy Overview
• Policy Setting - Policy Setting Overview
• Monetary Policy Role
• ECB Governing Council and Monetary Policy Decisions
  
  - Policy Implementation Overview
• Free Market Operations
• Counterparty Eligibility
• Legal Documentation
• Collateral Framework
• Asset Purchase Programmes
• Collateral Management & Provision of Liquidity to Banks
  
  - Management of Investment Assets Overview
• Central Bank's Investment Assets
• ECB's US Dollar Reserve Assets
  
  How we control financial services in Ireland.
  
  Regulation Overview
  
  Changes to the Russia/Ukraine Regulations
  Fitness and Probity
  Innovation Hub
  Log in to Central Bank Portal
  Log in to Cooperative Credit Union Auditor Reporting
  Log in to ORION
  Registers.

- Regulation Overview. - Innovation-Hub - Innovation-Hub Overview. - Engaging with the Innovation Hub. - How to engage with the Innovation Hub. - Innovation Hub Engagement Form. - Innovation Sandbox Programme. - Our technique to development. - Speeches and publications. - EU/international development online forums. - Consultation Paper on Innovation Engagement - CP156

- Central Bank of Ireland Portal Overview. - Returns Guidance. - Help. - Portal Legal Information. - Contact Us

- How We Regulate Overview. - Authorisation. - Fitness & Probity. - Individual Accountability Framework. - Brexit FAQ - Financial Services Firms. - Policy. - Supervision. - Fees & Levies. - Regulatory Decisions Unit. - Enforcement. - Resolution Framework. - International Financial Sanctions. - Codes. - Diversity and Inclusion in Regulated Firms

- Industry & Market Sectors Overview. - Brokers/ Retail Intermediaries. - Bureaux de Change. - Client Assets/ Investor Money. - Credit Institutions. - Credit Servicing Firms/ Credit Servicers. - Cooperative credit union. - Crowdfunding Company. - Debt Management Firms. - Electronic Money Institutions. - Funds Service Providers. - Funds. - High Cost Credit Providers. - Insurance & Reinsurance. - Investment Firms. - Money Transmission Businesses. - Payment Institutions. - PEPP Provider. - Retail Credit & Home Reversion Firms. - Securities Markets

- Anti-Money Laundering and Countering the Financing of Terrorism Overview. - Correspondence with Industry. - EU and International. - Events. - Financial Sanctions and Terrorist Financing - additional obligations. - Registration - Cheque Cashing Offices. - Registration - Schedule 2 Firms. - Virtual Asset Service Providers. - Regulation. - Risk and Guidance. - Sector specific ML/TF Risk Evaluation Questionnaire. - Supervision. - TCSP Authorisation. - Beneficial Ownership Register. - Fund Transfer Regulations Notification Requirement for Payment Service Providers. - Ireland Safe Deposit Box Bank and Payment Accounts Register (ISBAR)

- Consumer Protection Overview. - Compliance Monitoring. - Legislation for Consumer Protection. - Advisory Groups. - Central Credit Register. - Consumer Protection Outlook Report. - European Supervisory Authority Guidelines. - Consumer Protection Directorate - Contact Us. - Consumer Protection Research. - Consumer Protection Code 2025. - Consumer Protection Codes and Regulations

- Markets Update Overview. - IOSCO. - ESMA Guidelines and Recommendations. - Markets Update Archive

- Protected Disclosures & Whistleblowing Overview. - 2024 Report on Protected Disclosures. - 2023 Report on Protected Disclosures

- Markets in Crypto Assets Regulation (MiCAR) Overview. - MiCAR - frequently asked concerns

- Digital Operational Resilience Act (DORA) Overview. - Communications and Publications. - DORA - frequently asked concerns. - Reporting Major ICT-related Incidents and Significant Cyber Threats. - Reporting Registers of Information

- Unauthorised Firms Overview. - Warnings - Unauthorised Firms

- PSD2 Overview. - PSD2 - Reporting Requirements. - PSD2 - Frequently Asked Questions

What we publish on the economy and about ourselves.

Publications Overview

A forum for research study engagement.

Research Exchange

Governor's Blog.
- Publications Overview. - Behind the Data. - Climate Observatory. - Consultation Papers. - Consumer Protection Research. - Correspondence - Correspondence Overview. - Oireachtas Correspondence. - Department of Finance Correspondence. - General Correspondence

- Corporate Reports Overview. - Reserve Bank Annual Report and Annual Performance Statement 2024. - Our Strategy. - Annual Reports Archive. - Annual Performance Statements Archive

- Financial Stability Review Overview. - Financial Stability Review 2025 I. - Financial Stability Review 2024 II. - Financial Stability Review 2024 I. - Financial Stability Review 2023 II. - Financial Stability Review 2023 I. - Financial Stability Review 2022 II. - Financial Stability Review 2022 I. - Financial Stability Review 2021 II. - Financial Stability Review 2021 I. - Financial Stability Review 2020 II. - Financial Stability Review 2020 I. - Financial Stability Review 2019 II. - Financial Stability Review 2019 I. - Financial Stability Review Archive. - Macro Financial Reviews. - Financial Stability Review 2025 I

- Quarterly Bulletins Overview. - Signed Articles. - Quarterly Bulletins Archive. - Quarterly Bulletin Q2 2025. - Quarterly Bulletin Q1 2025. - Quarterly Bulletin Q4 2024. - Quarterly Bulletin Q3 2024

Our role as the leading compiler of Irish monetary stats.

Statistics Overview

Making data available for all.

Open Data Portal

Innovative insights utilizing frontier techniques.

Frontier Statistics

- Statistics Overview. - Statistical Publications - Statistical Publications Overview. - Behind the Data

- Data & Analysis Overview. - Credit and Banking Statistics. - Monthly Card Payment Statistics. - BIS Triennial Derivatives Survey. - Non-Bank Financial Sector Statistics. - Quarterly Financial Accounts. - Household Wealth. - Securities Statistics. - Competitiveness, Reserves and National Debt. - Euro Area Statistics. - Insurance Corporations Statistics. - Payment Statistics. - Pension Fund Statistics. - National Claims Information Database

- Statistical Reporting Requirements Overview. - Schedule of Dates. - Credit Institutions. - Targeted Longer-Term Refinancing Operations (TLTROs). - Financial Vehicle Corporations. - Securities Reporting Custodians. - Fund Administrators. - Insurance Corporations. - Special Purpose Vehicles. - Classification of Entities by Institutional Sector. - Payment Company. - AnaCredit in Ireland. - Pension Funds

- Exchange Rates and Interest Rates Overview. - Exchange Rates. - ECB Rates Of Interest

- Frontier Statistics Overview. - What are Frontier Statistics? - Total Domestic Credit. - Mortgage Rate Of Interest Distributions. - New Non-Bank Lending to Irish Enterprises. - Household Debt

ACS

Our work in securing you.

Consumer Hub Overview

Avoiding Financial Scams.
Check if a company is controlled.
See a list of unauthorised firms.
Complain about a financial services firm.
- Consumer Hub Overview. - Explainers - Explainers Overview. - Animated Explainer Series

- Buying insurance Overview. - What info do I require to supply when purchasing insurance coverage?

- Banknotes and Coins Overview. - Collector Coins. - Replace Old or Damaged Money. - Euro Banknotes. - Euro Coins. - Eurosystem Cash Strategy. - Old Irish Banknotes. - Old Irish Coins. - Suspect Counterfeits. - Banknotes & Coins FAQs

- Mortgage Measures Overview. - Mortgage Measures - FAQ

- Warnings and Alerts Overview. - Notice on Phishing Email

- Tracker Mortgage Examination Overview. - AIB/EBS Tracker Cases Settled

Home. Financial System. Financial Stability. Macroprudential Policy. 1. Mortgage Measures

In this Section

Mortgage Measures - FAQ. Mortgage Measures Framework Review. New Mortgage Lending - Data and Commentary

Mortgage Measures

The mortgage steps are a vital component of the Central Bank's macroprudential policy structure.

The mortgage measures objective to ensure sustainable lending standards in the mortgage market.

In doing so, the procedures seek to prevent the emergence of an unsustainable relationship between credit and house rates and eventually support the durability of debtors, lending institutions and the wider economy.

The procedures work by setting limits on the amount of cash that people can borrow to purchase home using loan-to-income (LTI) and loan-to-value (LTV) limits.

The LTI limit restricts the amount of money you can obtain to an optimum of 4 times gross earnings for first-time-buyers and 3.5 times gross income for second/subsequent buyers.

So, for example, a first-time purchaser couple with a combined income of EUR100,000 can obtain up to an optimum of EUR400,000.

A 2nd and subsequent purchaser with the very same income can borrow approximately a maximum of EUR350,000.

The LTV limit needs you to have a minimum deposit before you can get a mortgage. The size of this deposit depends on which category of purchaser you are.

- First-time-buyers and second/subsequent buyers require to have a minimum deposit of 10%. - Buy-to-let buyers need to have a minimum deposit of 30%.

Banks and other lenders can lend a specific amount above the limits.

The proportion of financing permitted above the limitations applies at the level of the borrower type, such that:

- 15 percent of first-time-buyer financing can happen above the limitations. - 15 percent of 2nd and subsequent purchaser financing can occur above the limits. - 10 per cent of buy-to-let-buyer financing can take location above the limitations.

The Central Bank has set out the essential principles of the structure for the macroprudential mortgage procedures in its framework document.

The Central Bank frequently keeps track of the mortgage steps and housing markets more broadly and interacts its findings and judgements on these in its biannual Financial Stability Review.

Evolution of the mortgage determines 2015 - 2021

These measures were initially introduced in 2015 and were evaluated on an annual basis until 2021.

The following offers previous reviews of the mortgage procedures, associated research and Statutory Instruments.

2021 Review of Mortgage Measures (FSR 2021: II)

2020 Review of Mortgage Measures (FSR 2020: II)

2019 Review of Mortgage Market Measures (FSR 2019: II)

2018 Review of Mortgage Market Measures

2017 Review of Mortgage Market Measures

2016 Review of Mortgage Market Measures

The policies have actually been based on extensive economic analysis and empirical evidence. This research has been published and can be discovered listed below.

Economic Letter: Macroprudential Measures and Irish Mortgage Lending: An Evaluation of Recent Data

Policy Paper: The Introduction of Macroprudential Measures for the Irish Mortgage Market

Research Technical Paper: Credit conditions, macro-prudential policy and home costs

Research Technical Paper: Designing macroprudential policy in mortgage loaning: Do first-time-buyers default less?

Economic Letter: Do First time purchasers default less? Implications for macro-prudential policy

Economic Letter: Mortgage insurance in an Irish context

Economic Letter: House price volatility: The function of different purchaser types

Economic Letter: Assessing the impact of macro-prudential procedures

Economic Letter: Macro-prudential measures and the housing market

Economic Letter: Macro-prudential Tools and Credit Risk of Residential Or Commercial Property Lending at Irish banks

Economic Letter: Assessing the sustainability of Irish residential home costs: 1980 Q1 - 2016 Q2

Economic Letter: Housing supply after the crisis

Economic Letter: Exploring developments in Ireland's regional rental markets

Economic Letter: Modelling Irish Rents: Recent Developments in Historical Context

Economic Letter: Macroprudential Measures and Irish Mortgage Lending: Insights from H1 2016

Economic Letter: The Effects of Macroprudential Policy on Borrowers Leverage

Economic Letter: Model-based estimates of the durability of mortgages at origination

Economic Letter: Originating Loan to Value ratios and the resilience of mortgage portfolios

Economic Letter: The earnings distribution and the Irish mortgage market

Economic Letter: Macroprudential and Irish mortgage financing: A summary of lending in 2016

Economic Letter: Macroprudential steps and Irish mortgage financing: Insights from H1 2017

Economic Letter: New mortgage financing activity in a relative context

Financial Stability Note: Macroprudential steps and Irish mortgage financing: An overview of 2017

Financial Stability Note: Macroprudential procedures and Irish mortgage financing: Insights from H1 2018

Financial Stability Note: Lending above macroprudential mortgage limits: The Irish experience given that 2015

Financial Stability Note: Have First-Time Buyers continued to default less?

Financial Stability Note: Mortgage servicing burdens and LTI caps

Financial Stability Note: A procedure of bindingness in the Irish mortgage market

Financial Stability Note: Mortgage borrowers at the loan-to-income limit

Financial Stability Note: Mortgage repayment cost throughout the earnings distribution

Financial Stability Note: An overview of the Irish housing market

2022 Regulations (Statutory Instrument No. 546 of 2022)

The following Statutory Instruments will be withdrawed with impact from 1 January 2023

2015 Regulations (Statutory Instrument No. 47 of 2015)

2016 Regulations (Statutory Instrument No. 568 of 2016)

2017 Regulations (Statutory Instrument No. 559 of 2017)

2019 Regulations (Statutory Instrument No. 369 of 2019)

2021 Regulations (Statutory Instrument No. 666 of 2021)

The guidelines were likewise notified by a public consultation issued in 2014. The Central Bank of Ireland released a feedback document offering an overview of reactions to the submissions made throughout the assessment procedure and the review procedure undertaken by the Reserve bank of Ireland.

For additional info see: CP87 Macro-prudential policy for residential financing.

About the Mortgage Measures Framework Review

Over the course of 2021 and 2022, the Reserve bank performed a review of the mortgage determines structure. The function of the evaluation was to guarantee that the mortgage determines continue to stay suitable for purpose, because of the development of the financial system and the more comprehensive economy because the measures were first presented in 2015.

The review considered the total structure for, and method around, the mortgage measures. The conclusions of the evaluation were informed by the Reserve bank's analysis of a large range of evidence, lessons from international experience and the feedback received through engagement with the public and other stakeholders. The evaluation concluded in October 2022 with the publication of the revised structure for macroprudential mortgage procedures.