Author: 
Irish League of Credit Unions

3.23 Article 41(9) of CCD2

Yes. We would view the provisions of the CUA as giving the Central Bank product intervention powers specifically Section 87 of the CUA in certain circumstances. The pace of new innovation and the speed of digitalisation strengthens the case for product intervention powers. However, this should be done in a controlled and clearly defined manner as was the case in the Central Bank’s intervention in the Contracts for Difference retail market in 2019.