Codes of Conduct 

The Central Bank of Ireland has a number of statutory codes of conduct.  These codes of conduct are set out below:

Consumer Protection Code

The Consumer Protection Code 2006 (the Code) was introduced in August 2006 and it came fully into effect on 1 July 2007.  The Code set out the requirements that regulated firms must comply with when dealing with consumers in order to ensure a similar level of protection for consumers, regardless of the type of financial services provider. 

In May 2008, we produced an Addendum to the Consumer Protection Code in respect of the activities of retail credit firms and home reversion firms, to meet our new regulatory responsibilities in respect of these firms as set out in the Markets in Financial Instruments & Miscellaneous Provisions Act, 2007. 

The Consumer Protection Code 2006 has now been revised and the Consumer Protection Code 2012 came into effect on 1 January 2012.

Relevant Consumer Protection Code documents 

All documents relevant to the Consumer Protection Code and its implementation are set out below:

Consumer Protection Code 2012

Consumer Protection Code 2006

Consumer Protection Code for Licenced Moneylenders

As licenced moneylenders are not subject to the Consumer Protection Code, the Central Bank of Ireland has a code specifically for licenced moneylenders.

Download Consumer Protection Code for Licenced Moneylenders

Code of Conduct on Mortgage Arrears

In February 2009, a Code of Conduct on Mortgage Arrears was introduced for all mortgage lenders.  This Code was effective from 27 February 2009 to 16 February 2010.  On 17 February 2010, an amended Code of Conduct on Mortgage Arrears was introduced for all mortgage lenders.  This Code was effective from 17 February 2010 to 31 December 2010.  On 1 January 2011, a revised Code of Conduct on Mortgage Arrears came into effect.

All documents relevant to the Code of Conduct on Mortgage Arrears and its implementation are set out below.

The following provisions of the 2006 Consumer Protection Code (2006 Code) were dis-applied for mortgage lenders when dealing with mortgage arrears and pre-arrears cases  under the CCMA:

Chapter 2: Provision 46,47 and 48 (Complaints handling)

Chapter 4:  Provisions 4 and 11.

On 1 January 2012, the Consumer Protection Code 2012 (2012 Code) became effective, replacing the 2006 Code.  With effect from that date, the following provisions of the 2012 Code have been dis-applied for mortgage lenders dealing with borrowers in arrears or pre-arrears under the CCMA:

Chapter 6 (Post-sale information requirements): Provisions 6.8 and 6.9

Chapter 8 (Arrears handling): All provisions 

Standard Financial Statement

The purpose of the SFS is to gather relevant financial information from a borrower in arrears or pre-arrears.  The SFS is essential to the effectiveness of the Mortgage Arrears Resolution Process and the new standard format will ensure that assessments of borrowers’ cases will be based on a common analysis of their financial circumstances. 

  • Guide to Completing a Standard Financial Statement     

  • Standard Financial Statement

    Code of Conduct for Business Lending to Small and Medium Enterprises

    In February 2009, a code of conduct for all business lending by regulated entities, excluding credit unions, was introduced.

    This has now been revised and the Code of Conduct for Business Lending to Small and Medium Enterprises 2012 came into effect on 1 January 2012. 

    Code of Conduct on the Switching of Current Accounts with Credit Institutions

    On 1 October 2010 a Code of Conduct on the Switching of Current Accounts with Credit Institutions was introduced and came into effect on that date. 

    Download the Code of Conduct on the Switching of Current Accounts with Credit Institutions   

  •  The Cheque Guarantee Card Scheme in the Republic of Ireland was withdrawn on December 31st 2011.  On that basis, from 1st July 2012, provisions 3(e)(ii) 3(f)(ii) and 7(a) of Chapter 3 in the 2010 Switching Code, are redundant and no longer apply.

    Other Documents:

    Code of Practice on the Transfer of Mortgages

    This Code of Practice was issued by the Central Bank of Ireland in 1991 to institutions involved in mortgage credit and it is a voluntary code. It may be applied on a voluntary basis by any institution involved in mortgage credit. The Code of Practice applies to a loan secured by the mortgage of residential property.  For the purposes of this Code of Practice, residential property is not limited to principal private residences.

      Code of Practice on the Transfer of Mortgages

    Documents which other firms, not subject to the Consumer Protection Code, must have regard to in relation to consumer protection issues are listed below:

  • MiFID – Feedback on Discussions of Conduct of Business Industry Working Group