CP169 – Consultation on Proposed Regulatory Framework for Credit Union Investment in Credit Union Service Organisations

Overview

Description

The Central Bank of Ireland is publishing this consultation paper to seek views on its proposals for a regulatory framework for credit union investment in credit union service organisations (CUSOs).

Section 24 of the Credit Union (Amendment) Act 2023 (the 2023 Amendment Act), when commenced as part of the Phase 4 commencement of the 2023 Amendment Act, will alter the scope of permitted investments by credit unions to allow for credit union investment in CUSOs.

In order to implement this legislative change, the Central Bank is required to introduce a regulatory framework for credit union investment in CUSOs.

The Central Bank’s proposals for the regulatory framework for credit union investment in CUSOs include:

  • Introduction of a definition for CUSOs
  • Prescription of investment in CUSOs as a permitted class of credit union investment
  • Prescription of related counterparty and concentration limits for credit union investment in CUSOs and
  • Prescription of certain qualitative regulatory requirements related to credit union investment in CUSOs.

The proposed changes have been informed by the Central Bank’s statutory mandate in relation to credit unions as set out in section 84 of the Credit Union Act, 1997 which requires that the Central Bank administer the system of regulation and supervision of credit unions with a view to (1) the protection by each credit union of the funds of its members, and (2) the maintenance of the financial stability and well-being of credit unions generally.

CP Number : CP169
Date : 12 June 2026
Closing Date : 12 August 2026

Consultation Paper Document

CP169 - Consultation on Proposed Regulatory Framework for Credit Union Investment in Credit Union Service Organisations | pdf 665 KB