The Central Bank has published the outcome of an external review by the International Credit Union Regulators’ Network (ICURN) of the performance of its functions in relation to credit unions. ICURN. Key findings include a recommendation that PRISM be adapted as appropriate for the credit union sector and that the Central Bank refocus its attention and resources on key risks, particularly credit risk, that have real potential to cause material damage to its objectives. ICURN observed that "[p]oor-quality underwriting and a failure to understand and apply the principles of sound lending have been, and remain, significant problems for many Irish credit unions".
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Central Bank publishes external review of its regulation and supervision of credit unions
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