Raiffeisen Bank International AG’s Post

It was a privilege to welcome the Central Bank of Ireland and Compliance Institute to An Post's HQ today to discuss the Consultation on the Consumer Protection Code. An Post has been on a fantastic journey in recent years to enhance and expand our financial services offering in response to the needs of our customers. This expansion has been achieved in line with our unifying purpose, to act for the common good. Where other providers have left the market or community, we have opened our doors to extend access to cash services through our Post Offices to customers of other providers. Post Offices are an increasingly important part of the Irish financial services infrastructure. Like the evolving needs of customers, so too do the expectations of customers evolve over time. In order to meet and indeed drive the ever enhancing standards, the rules that govern the providers of Financial Services Products must also be updated. Input from institutions affected by these changes is vital in ensuring the standards are conducive to their intentions. I welcome the Central Bank of Ireland’s consultative approach in this regard. 

Interested on the first SSM publication for 2024? The Supervisory Manual, attached below, has just been issued. The Supervisory Manual was first published by the European Central Bank (#ECB) in March 2018 and was drafted with the assistance of the national competent authorities as part of the ECB’s #transparency policy. This revised version on the Manual, offers the most up-to-date information on European #banking #supervision, reflecting, among others, the reorganisation of ECB Banking Supervision that took place in 2019. The revised Manual replaces the 2014 Guide on banking supervision.

https://lnkd.in/eW5cA6A4 The Bank for International Settlements (BIS) and its central bank partners have launched a project which explores the feasibility of encoding jurisdiction-specific policy and regulatory requirements into a common protocol for cross-border use cases. #BIS #banking #regulation #jurisdictions

Central Bank of Ireland has published its #SEAR Regulations and final Guidance on #IAF They will also issue the following shortly: IAF Frequently Asked Questions to assist firms in their ongoing implementation of the Framework; and A system “How To” Guide for submitting IAF documentation. View those documents here https://lnkd.in/eGyPgACq https://lnkd.in/e9krMEVu #PCFs #fitnessandprobity #financialregulation

Under the Central Bank (Individual Accountability Framework) Act 2023 passed earlier this year, the Central Bank of Ireland is currently implementing an individual accountability framework for senior managers of financial services firms, the Irish equivalent of the UK's senior managers and certification regime. In this briefing, our #FinancialServices team outlines the similarities and differences in scope of the Irish and UK regimes and explains their refinements and developments. Read the article >

Our briefing takes account of the Central Bank's Feedback Statement on CP153 and appended final form IAF Regulations and Guidance published on 16 November 2023, and primary legislation enacted on 9 March 2023. We set out key actions to benchmark your firm’s implementation action plan under each of the four pillars of the individual accountability framework. #WilliamFry #FinReg #FinancialRegulation #IndividualFramework #SEAR #CP153 #CentralBank #IAF Shane Kelleher, Louise Harrison, Hilary Rogers

Unveiling the Functions of the Bank for International Settlements (BIS): Promoting Financial Stability on a Global Scale The Bank for International Settlement (BIS), established in 1930, is an international financial organization owned by 60-member countries, representing countries from around the world that together make up about 95% of the world GDP. Its head office is in Basel, Switzerland and it has two representative offices in Hong Kong and Mexico City. The objective of BIS is to serve central banks in their pursuit of monetary and financial stability, to foster international cooperation in those areas and to act as a bank for central banks.  Tap on the below link to know more. #Basel #Baselregulation #banking #finance

Meeting was held with the World Bank experts within the framework of current technical missions 🔸A meeting was held at the Central Bank with World Bank experts as part of the mission to implement the financial sector reform project and the technical assistance mission on bank supervision and regulation. 🔸During the dialogue, further steps to develop projects implemented within the mission and their effectiveness were discussed. In particular, the results of the pilot project for risk-based supervision, the bank resolution law and the processes for developing relevant regulatory documents were discussed. 🔸Following the meeting, the parties agreed to continue discussion on these issues in the future. #international_cooperation