Day: September 15, 2022
On 13 September 2022, the Central Bank of Ireland (the Central Bank) reprimanded and fined Danske Bank A/S, trading in Ireland as Danske Bank, €1,820,000 pursuant to its Administrative Sanctions Procedure for three breaches of the Criminal Justice (Money Laundering & Terrorist Financing) Act 2010, as amended (the CJA). The three CJA breaches stem from […]
Looking through the waves: the value of resilience Speech at Dublin Chamber of Commerce delivered on 14 September 2022 Thank you for the opportunity to speak to you tonight. I am going to talk about the current economic outlook, the economic policy response to the challenges facing households and businesses in Ireland and across the […]
The Central Bank of Ireland has today (13 September 2022) confirmed that it continues to exchange old Irish pound notes or coins for euro and has no plans to withdraw this service. Director of Currency at the Central Bank Bernard Sheridan said: “The Central Bank of Ireland offers an exchange service for old Irish pound […]
The Central Bank of Ireland has today (12 September 2022) published the pre-Budget letter sent to the Minister for Finance by Governor Gabriel Makhlouf on 22 July 2022. The letter sets out the challenging and uncertain economic backdrop to Budget 2023. The economy began 2022 with strong momentum as the impact of the pandemic subsided, […]
The Governor of the Central Bank of Ireland, Gabriel Makhlouf, has announced the appointment of James Doherty SC as Chairperson of the Irish Takeover Panel. Mr Doherty’s appointment is effective from today, 12 September, and is for a three-year period in accordance with the provision of the Articles of Association of the Panel. The Irish […]
24% of KBC Bank and Ulster Bank accounts closed since the start of 2022 600,311 accounts were opened in the three main remaining banks in the first eight months of the year Updated figures will be published monthly As part of its ongoing work to supervise the withdrawal of Ulster Bank and KBC Bank from […]
It has come to the attention of the Central Bank of Ireland (‘Central Bank’) that a fraudulent entity, Beagle Car Insurance, has been operating as an insurance / reinsurance intermediary in the State in the absence of appropriate authorisations. The unauthorised entity, operating the website www.beaglecarinsurance.com (website no longer available), deceived customers by acting as […]
The White House said a tentative agreement has been reached to avert a shutdown on railways. “The tentative agreement reached tonight is an important win for our economy and the American people,” said a statement attributed to President Joe Biden, who said the critical rail system will keep working and avoid disruption of our economy. […]
Credit Suisse upped its rating on Nokia NOK, -0.40% NOKIA, +0.05% to outperform from neutral, and lowered Ericsson ERIC, -3.32% ERIC.B, -3.05% to underperform from outperform, as Adithya Metuku assumed primary coverage on both. The analyst said Nokia’s diversified portfolio and the strength in network infrastructure will make it better placed to withstand headwind to […]
The market major today remains weak, the current quote being 0.9975. The statistics from the Euro zone published yesterday disappointed investors and compromised the EUR. Industrial production in the region in July dropped by 2.3% m/m against the forecast 1% and by 2.4% y/y against the forecast growth by 0.4% and growth in June by […]
