Regulatory Alerts2016-05-31
Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Lending to Small and Medium-Sized Enterprises) (Amendment) Regulations 2016
The Central Bank of Ireland promulgated these 2016 regulations to amend the 2015 lending framework for small and medium-sized enterprises under the Central Bank (Supervision and Enforcement) Act 2013. The rules update the legal definitions of micro, small, and medium-sized enterprises by establishing employee thresholds of fewer than 50 and 250, coupled with revised annual turnover and balance sheet limits. Additionally, the regulations mandate that credit warning statements appear in a prominent, bold, boxed layout with a font size at least equal to the surrounding text, and eliminate the previous twelve-month deferral period for credit decisions following an appeal.
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