The Central Bank's first-ever Private Motor Insurance Report also shows legal costs for most cases settled in court make up nearly two-thirds of the total compensation awarded.

A senior Central Bank official has warned that some banks are starting to forget the hurt caused during the financial crisis.

Fianna Fail Spokesperson for Finance Michael McGrath TD has called on the KBC Group to apologise for comments on the tracker mortgage scandal.

Eamon Quinn Irish banks will have to invest significant funds to repair “outdated and fragmented” computer systems and are still failing their customers, the Central Bank deputy governor has said.

Ireland's economy continued to grow in the second quarter of the year, albeit with progress characterised by a continuing large contribution from multinational companies and moderating growth in the domestic economy.

The economist, who has been with the bank for more than 20 years, will take up the position from the start of June until the end of August.

Credit unions have again urged regulators to allow them compete in the Irish mortgage market “in a meaningful way” after the Central Bank launched a further consultation to ensure they are fully aware of the risks.

Left to their own devices, Irish banks will do little to solve their own mortgage arrears problems but some policies to clean up the loan books may make matters worse, according to the Central Bank.

Fast-and-loose finance industry

The Central Bank’s (CB) deputy governor Ed Sibley yesterday called for bank executives and directors to be held to account for overcharging at least 20,000 mortgage customers over recent years. 

The Government has been urged to commission a report on the ability of Irish ports to handle new routes and extra cargo bypassing the British mainland and going direct to mainland Europe in the event of the UK leaving the customs union.

The Government has been urged to commission a report on the ability of Irish ports to handle new routes and extra cargo bypassing the British mainland and going direct to mainland Europe in the event of the UK leaving the customs union.

Sterling climbed for the first time in four days against the dollar yesterday as the dollar weakened after US Federal Reserve chair Janet Yellen’s comments on low inflation were interpreted as dovish.

Fianna Fáil finance spokesman Michael McGrath has linked the departure of Central Bank deputy governor Cyril Roux and a high level of vacancies at the regulator to restrictions public bodies can pay their top staff.

The confirmation from Pepper, an Australian mortgage lender based in Shannon, Co Clare, that it will sell home loans directly, has been welcomed by a leading expert as it boosts hopes that new entrants will shake up the market.

Irish banks are ready for a Brexit, according to the Central Bank.

Good afternoon. Here’s all the news you need to know this lunchtime.

Hopes that a new government would see a relaxation of the Central Bank’s controversial mortgage lending limits have been dashed, as the bank has said they are “here to stay”.

Bank of England governor Mark Carney was yesterday accused of jeopardising the bank’s credibility in the European Union debate as he faced a fiery line of questioning from MPs.

Taliban fighters have overrun a strategic district in Afghanistan’s southern province of Helmand, delivering a serious blow to government forces.

Inflation at zero, rather than a forecast -0.1%, was not enough to shift sterling out of tight ranges on the run in to tonight’s US Federal Reserve meeting, widely expected to raise interest rates for the first time in almost a decade.

The deputy governor of the Central Bank has warned that public sector pay restrictions and the lure of better pay at the European Central Bank are damaging its ability to retain staff.

Calls from one of the country’s leading estate agency groups for the Central Bank’s mortgage rules to be revisited are likely to fall on deaf ears after the finance minister signalled his support for the lending restrictions.

It may only be a matter of time before a cyber attack creates a systemic problem that cascades across the broader financial industry, the Central Bank’s deputy governor has warned.

Bank lending will remain a crucial source of funding for SMEs despite attempts to develop alternative forms of finance, according to Central Bank deputy governor Cyril Roux.

Most people seeking a mortgage from next year will be restricted to borrowing a maximum of 80% of the cost of the property.

Flashes of illumination rather than fireworks are expected at this week’s annual meeting of top central bankers and economists in Jackson Hole, Wyoming.

London: Bank of England deputy governor Andrew Bailey said the increasingly large fines banks face for poor conduct threaten to undermine efforts to recapitalise the industry.

Bank of England governor Mark Carney dampened expectations of an early interest rate rise today as he warned that despite strong growth the “prize” of sustained economic improvement was yet to be achieved.

Central Bank chief Patrick Honohan has said a broad and effective banking inquiry will go a long way to restoring confidence in the financial regulatory system and in Irish public affairs in general.

A broad and effective banking inquiry will go a long way to restoring confidence in the financial regulatory system and in Irish public affairs in general, according to the governor of the Central Bank, Patrick Honohan.

At least 15 civilians were killed when a suicide bomber riding a rickshaw blew himself up outside a checkpoint near a market in northern Afghanistan, officials said today.

Two children were killed when their family’s vehicle hit a roadside bomb in southern Afghanistan today, officials said.

Real and lasting financial sector reform will only be achieved with a cultural change in mindset in both the public and private sector, a senior figure in the Irish Central Bank has stated.

The US has largely cracked the problem of protecting taxpayers from the danger of having to bail out banks that are “too big to fail” while Europe lags behind, Bank of England deputy governor Paul Tucker has said.

The deputy governor of the Central Bank of Ireland has said that he feels that Ireland has "a strong regulator" of the banks.

The deputy governor of the Central Bank, Matthew Elderfield, welcomed recent announcements by the pillar banks that long-term loan modifications would form part of the range of solutions to the mortgage arrears crisis.

The benefits for the Irish economy and banking system from a European banking union will far outweigh any potential downsides, the former government adviser Alan Ahearne has argued.

Financial regulator Matthew Elderfield has said that progress made on the establishment of the European Banking Authority — the single supervisory body devised at June’s European Summit — should boost confidence in Ireland as it prepares to exit its bailout programme next year.

The Bank of England could name its new governor this week amid pressure to appoint a successor to Mervyn King before the Chancellor’s autumn statement.

The corrosive culture that pervades the Irish banking sector must be eliminated, the deputy governor of the Central Bank Matthew Elderfield declared yesterday in a key address at UCC.

Spanish banks will need a total of €59.3bn in extra capital to ride out a serious economic downturn, an independent report said yesterday, removing a major obstacle in the way of an international bailout for Madrid.

Russia’s southern city of Krasnodar has closed roads to block movement of some food due to African Swine Fever.

A strong earthquake has rattled a remote area of northern Afghanistan, officials say. There are no initial reports of injuries or damage.

They say that paper never refused ink and so the global financial and economic crisis that took root five years ago has resulted in millions of column inches each and every day.

Britain’s biggest banks were tonight embroiled in a criminal investigation after the Serious Fraud Office opened an official inquiry into the rate-rigging affair.

British banking giant Barclays today saw its credit rating outlook downgraded to negative to reflect concerns over the impact of Bob Diamond's shock resignation.

Former Barclays boss Bob Diamond today said the bank lowered key lending rates amid fears the British government would want to nationalise the lender during the financial crisis.