Central Bank transfers €1.79bn to the exchequer after seeing profit increase

The bank is to ask for public submissions on mortgage lending rules

Central Bank, annual report, profit, Ireland, exchequer, mortgage lending, Philip Lane,

Image: Central Bank of Ireland

The Central Bank of Ireland says it saw a profit of €2.24bn for 2015.

The figure is contained in its annual report and performance statement.

The bank says this is a further increase on last year's figure - and from this, €1.79bn has been transferred to the exchequer.

The bank also announced that as part of its review of the mortgage lending rules, it will invite written public submissions that provide "evidence-based analyses" of the impact of the rules.

Details on this process will be provided by the bank in advance of the submission period.

Launching the annual report, the Central Bank Governor Philip Lane highlighted the favourable outlook for the domestic economy.

However, he stressed that discipline in addressing the remaining vulnerabilities and the longer term.

Commenting on the mortgage rules framework introduced in 2015, he confirmed that while the general framework is intended to be a permanent feature, he said that any changes will require a "high evidence threshold" and that the calibration of these rules can be "tightened, loosened or left unchanged".

On the Euro area, he said: "Tentative signs of recovery in the Euro area are also visible, supported by an accommodative monetary policy stance that has included the use of both standard and non-standard measures".

"The announcement by the Governing Council ECB in March of further accommodative measures underscores our intention to use exceptional monetary policy instruments in support of the price stability mandate".