Regulatory Alerts2011-11-03
Code of Conduct for Business Lending to Small and Medium Enterprises 2012
The Central Bank of Ireland issued this mandatory Code to regulate business lending to small and medium enterprises, replacing the 2009 version effective from January 1, 2012. It requires regulated entities to ensure fairness, transparency, and access to credit while establishing strict procedures for handling borrowers in financial difficulties, including alternative repayment arrangements and appeals. The Code applies to various credit products like loans and overdrafts, excluding credit unions and specific institutional transactions, and mandates compliance with defined general principles and operational standards.
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