S.I. No. 465/2025 - Credit Institutions Resolution Fund Levy (Amendment) Regulations 2025

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 7th October, 2025.

I, PASCHAL DONOHOE, Minister for Finance, in exercise of the powers conferred on me by section 15 of the Central Bank and Credit Institutions (Resolution) Act 2011 (No. 27 of 2011), having consulted with the Central Bank of Ireland and the Credit Union Advisory Committee, hereby make the following regulations:

1. These Regulations may be cited as the Credit Institutions Resolution Fund Levy (Amendment) Regulations 2025.

2. The Credit Institutions Resolution Fund Levy Regulations 2012 ( S.I. No. 381 of 2012 ) (amended by the Credit Institutions Resolution Fund Levy (Amendment) Regulations 2024 ( S.I. No. 476 of 2024 )) are amended –

(a) in Regulation 2 –

(i) in paragraph (1) –

(I) by the deletion of the definition of “levy period”, and

(II) by the insertion of the following definitions:

“ ‘levy period 1’ means the period beginning on 1 October 2025 and ending on 30 September 2026;

‘levy period 2’ means the period beginning on 1 October 2026 and ending on 30 September 2027;

‘levy period 3’ means the period beginning on 1 October 2027 and ending on 30 September 2028;

‘levy period 4’ means the period beginning on 1 October 2028 and ending on 30 September 2029.”,

and

(ii) by the substitution of the following paragraph for paragraph (3):

“(3) In these Regulations, as respects an authorised credit institution which is a credit union, a reference to the total assets of a credit union shall be construed as a reference to the total assets reported by that institution in the balance sheet of that institution forming part of the quarterly prudential return made to the Registrar of Credit Unions in respect of each of the following reporting dates:

(a) in the case of levy period 1, 30 June 2025;

(b) in the case of levy period 2, 30 June 2026;

(c) in the case of levy period 3, 30 June 2027;

(d) in the case of levy period 4, 30 June 2028.”,

(b) by the substitution of the following for Regulation 3 –

“3. These Regulations apply to every authorised credit institution that is a credit union –

(a) in the case of levy period 1, on 1 October 2025,

(b) in the case of levy period 2, on 1 October 2026,

(c) in the case of levy period 3, on 1 October 2027,

(d) in the case of levy period 4, on 1 October 2028.”,

(c) by the insertion of the following Regulation after Regulation 3:

“3A. Each authorised credit institution which is a credit union to which these Regulations apply shall pay a levy in respect of levy period 1, levy period 2, levy period 3 and levy period 4, where applicable, to the Minister for Finance for the account of the Credit Institutions Resolution Fund at the rate of zero per cent of the total assets of the credit union concerned.”,

(d) in Regulation 4 –

(i) by the substitution of the following paragraph for paragraph (1):

“(1) A person who is liable to pay the levy by virtue of these regulations in respect of a levy period shall make such payment to the Bank not later than:

(a) in the case of levy period 1, 28 February 2026;

(b) in the case of levy period 2, 28 February 2027;

(c) in the case of levy period 3, 29 February 2028;

(d) in the case of levy period 4, 28 February 2029”,

and

(ii) in paragraph (2A), by the substitution of “any of the levy periods referred to in paragraph (1)” for “a levy period”.

and

(e) by the deletion of the Schedule.

GIVEN under my Official Seal,

30 September, 2025.

PASCHAL DONOHOE,

Minister for Finance.