Introduction to the Industry Funding Levy

The Central Bank Reform Act, 2010 confers on the Central Bank of Ireland the power, with the approval of the Minister for Finance, to make Regulations prescribing an annual Industry Funding Levy ('the levy') to be paid by regulated entities to the Central Bank of Ireland. The purpose of this levy is to fund the relevant proportion of the cost of financial regulation activities. The balance is funded by the Central Bank of Ireland.

For information on the most recent levies issued to regulated entities please see the Funding Strategy and Guide to the 2023 Industry Funding Regulations.

Funding the Cost of Financial Regulation activity

Who is liable to pay?

Any regulated entity who is authorised and regulated by the Central Bank of Ireland on 31 December of a given year is liable to pay the levy in the following year. In addition, a regulated entity that becomes authorised during the course of a levying year will be liable to pay a levy for the period for which it holds the authorisation in that year.

For example: a firm holding an authorisation as a financial services provider on the 31 December 2022 will be liable to pay the 2022 levy.

Levy categories

For the purpose of calculating its annual levy, a financial services provider is classified as falling within a particular ‘levy category’, according to the type of business it is authorised to undertake.  Further details on levy categories are available in the Funding Strategy and Guide to the 2023 Industry Funding Regulations.