The Central Bank's Annual Report for 2015 has been published which shows that the Bank generated a profit of €2.24bn during 2015 and transferred €1.79bn of this profit to the exchequer. At the launch of the report, Governor Philip Lane said that while the economy is continuing to show strong growth with a favourable outlook for the future, risks remain in relation to the legacy of high sovereign and private-sector debts in Ireland and the negative economic and financial impact under the forthcoming ‘Brexit’ referendum. The 2015 Annual Performance Statement details the regulatory and supervisory activities undertaken by the Central Bank during the year, including the introduction of mortgage rules on loan-to-value and loan-to-income ratios, the tracker mortgage examination, the transfer of supervisory responsibility for larger banks to the Single Supervisory Mechanism and the introduction of Solvency II. The Code of Conduct on Mortgage Arrears was also extended in 2015 to include the credit servicing firms that administer mortgage loans held by non-bank entities, such as private equity firms. In relation to the mortgage rules, the first review will be published in November 2016 following written submissions from the public on possible changes. While the general framework for the rules will not change, a calibration of the current rules may be introduced - tightening or loosening the rules- provided a high evidence threshold for doing so is met.