Domestic
Ireland Safe Deposit Box, Bank and Payment Accounts Register – Frequently Asked Questions (updated 24 February 2023)
The document aims to address frequently asked questions (FAQs) in relation to the Ireland Safe Deposit Box, Bank and Payment Accounts Register (ISBAR). ISBAR is Ireland’s Safe Deposit Box, Bank and Payment Accounts Register. ISBAR will be established and operated by the CBI, on behalf of the State, to ensure full transposition of Directive (EU) 2015/849 (as amended). The purpose of ISBAR is to hold information on accounts identifiable by IBAN (including account holders, beneficial owners and signatories), and information on safe deposit box services provided by credit institutions in Ireland, and to enable legally prescribed authorities to search and retrieve information.
The obligation for credit institutions to provide information will commence once formally notified by the CBI in February 2023. Initial data collection will take place as part of the proposed onboarding of credit institutions from 27 February 2023. The onboarding will be done on a phased basis. The CBI will provide credit institutions with a precise onboarding timeline in February 2023.
Any credit institution established in Ireland, which issues Irish IBAN identifiable accounts, or holds safe deposit boxes on behalf of its customers, is required to provide bank account and safe deposit box information to ISBAR.
European Union (Money Laundering and Terrorist Financing) (Use of Financial and Other Information) Regulations 2023 [S.I. No. 22 of 2023]
On 2 February 2023, the European Union (Money Laundering and Terrorist Financing) (Use of Financial and Other Information) Regulations 2023 were signed into law. This regulation makes provision for certain designated authorities to access and search bank account information when necessary for the performance of their tasks for the purposes of preventing, detecting, investigating or prosecuting a serious criminal offence. Credit institutions will be required to provide information on customers, beneficial owners of customers, bank and payment account information, and safe-deposit box information to the CBI.
European
EBA launches survey on green loans and mortgages
On 13 February 2023, the EBA launched an industry survey seeking input from credit institutions on their green loans and mortgages in addition to market practices relating to these loans. The survey is part of the broader European Commission’s strategy for financing transition to a sustainable economy. The deadline for submitting input is 7 April 2023.
EBA publishes final report on guidelines (revised) on methods for calculating contributions to deposit guarantee schemes
On 21 February 2023, the EBA published its final report on guidelines (revised) on methods for calculating contributions to deposit guarantee schemes under Directive 2014/49/EU and replacing guidelines EBA/GL/2015/10 (EBA/GL/2023/02). The guidelines aim to introduce more clarity for deposit guarantee schemes and improve the method of calculating contributions in a risk sensitive way and meet targets of the DGS fund.
The revised guidelines on methods for calculating contributions to DGSs will apply from 3 July 2024.
EBA updates important Q&As in the area of own funds and eligible liabilities
On 14 February, the EBA updated some of its existing Q&As on own funds and eligible liabilities to ensure consistency with the revised final draft regulatory technical standards (RTS) on own funds and eligible liabilities submitted to the European Commission in May 2021. While the latter have not been finally adopted yet, the EBA considered it important to provide clarity to institutions and market participants on some undisputed aspects related to the RTS that are particularly relevant for their practical implementation of the Capital Requirements Regulation (CRR) and the RTS.
