Dáil Éireann Debate, Thursday - 22 January 2026
317. Deputy Pearse Doherty asked the Tánaiste and Minister for Finance to provide an update on the pursuit of reciprocity with other European jurisdictions in relation the macroprudential policy framework for Irish property funds; and if he will make a statement on the matter. [5184/26]
View answerAt present there is no formal framework for reciprocation of macroprudential policy measures for non-bank financial intermediation (NBFI), including investment funds, in the EU. In the absence of such a framework, I am informed by the Central Bank of Ireland that, since the measures for Irish property funds were announced in November 2022, they have actively engaged with other national competent authorities in Europe to monitor whether exposure to Irish property assets has increased in these jurisdictions.
With regard to further action at EU-level, the Commission’s Communication on the ‘Further development of capital market integration and supervision within the Union’, published on 04 December 2025, referenced the need for “holistic, simpler and well-coordinated macroprudential oversight and risk monitoring across the financial system” and indicated that targeted actions are being considered to strengthen macroprudential oversight and to manage systemic risks stemming from NBFI. We await these proposals from the Commission, which are expected in H2 2026.
