Regulatory Alerts2021-07-22
Addendum to the Code of Conduct on Mortgage Arrears 2013
The Central Bank of Ireland issued this addendum to replace the Standard Financial Statement template within the Code of Conduct on Mortgage Arrears 2013 with an enhanced version effective from 1 January 2022. The new document mandates regulated entities to utilize a revised Industry Standard Financial Statement to comprehensively assess borrowers' financial circumstances during the Mortgage Arrears Resolution Process. It establishes specific legal requirements for data protection compliance, consent mechanisms, and borrower declarations while providing detailed guidance on completing the updated financial assessment forms.
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