Central Bank checks on the rise

The Central Bank is cracking down on banks, insurance firms and stockbrokers by ramping up site inspections and enforcement procedures.

The bank has published a list of themed reviews and enforcement priorities for this year. Not surprisingly top of the list of themed reviews is on mortgage arrears.

The Central Bank will be sending inspection teams to the banks to assess how they are complying with the code of conduct on mortgage arrears. Last month, the Central Bank governor, Patrick Honohan, faced a barrage of criticism from members of the Oireachtas Finance Committee for the lack of progress on resolving the mortgage arrears crisis.