Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Approvals Report for the three months ending December 2016.*
The following are the key elements:
- A total of 3,144 mortgages were approved per month, on average, in the three months ending December 2016 – some 1,492 (47.4%) were for first-time buyers (FTBs) while mover purchasers accounted for 1,029 (32.7%).
- The number of mortgages approved rose by 30.7% year-on-year and fell by 6.9% month-on-month.
- The value of mortgages approved per month, on average, in the three months ending December 2016 was €641 million – of which €295 million (46.0%) was accounted for by FTBs and €253 million (39.5%) by mover purchasers.
- The value of mortgage approvals rose by 42.4% year-on-year and fell by 5.7% month-on-month.
A total of 34,230 mortgage approvals, valued at €6.7 billion, were reported during 2016, based on the three-month moving average. This represented an overall year-on-year increase of 13% in volume and 20.2% in value.
Data collection for the BPFI Mortgage Approvals Report began in September 2012 covering the period from January 2011 onwards in respect of the market’s main mortgage lenders. The BPFI Mortgage Approvals Report December 2016 as well as the time series data file is available on the BPFI website here.
[*] All figures are based on the three-month moving average. Year-on-year compares the average for the three months ending December 2016 with the three months ending December 2015. Month-on-month compares the average for the three months ending December 2016 with the three months ending November 2016.
Note: Banking & Payments Federation Ireland is the voice of banking and payments in Ireland, representing over 70 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.
Contact: Jillian Heffernan, Head of Communications, 087 9016880
Against the backdrop of a growing economy which faces into a number of significant external challenges, the supply of business finance for growth will be a very important consideration for lenders, borrowers and policy makers among others.
In addressing this overall theme, the BPFI, in association with Mazars, will host a half day conference on Tuesday 28th February, examining the role and contribution of various constituent elements such as debt finance, equity finance, venture capital and guarantee schemes.
Coinciding with the recent opening in Dublin of a European Investment Bank office, we’ll learn how European-level finance and various risk sharing instruments can be effectively utilised; as well as how EU Commission policy can enable business growth. The conference will facilitate discussion among a wide range of interests across lenders, the business community, policy makers and other stakeholders.
The agenda is available for download here
For individual bookings, please click on the ‘Book Now’ button below. For organisations wishing to send several of their team, we are pleased to offer further discounts for group bookings (applicable where all attendees are employed by the same organisation and are registered under one booking):
- 4 for the price of 3
- 7 for the price of 5
- 10 for the price of 7
- For groups of 12 or more, every second delegate attends free of charge
To take advantage of this opportunity, please complete the form available here and send it to Lisa Shevlin at firstname.lastname@example.org
Four students from secondary schools across the country have been awarded with gold medals for their outstanding achievements in last year’s Leaving Certificate and Junior Certificate business exams.
The winners received their medals as part of the Business Studies Teachers’ Association of Ireland (BSTAI) Achievement Awards, hosted by Banking & Payments Federation Ireland (BPFI) at their offices in Nassau Street, Dublin. The awards recognise the top scoring students nationally in Accounting, Economics and Business at Leaving Certificate Level and Business Studies at Junior Certificate Level.
The medals were presented by Liam McLoughlin, Vice-President, BPFI, Fintan Slye, Chief Executive, EirGrid Group and Mary O’Sullivan, BSTAI.
The winning students were as follows:
Leaving Certificate Business
Student: Niamh Casey
School: Our Lady of Mercy Secondary School, Ozanam Street, Waterford City
Leaving Certificate Economics
Name: Liam Flanagan
School: Presentation College Bray, Putland Road, Bray, Co Wicklow
Leaving Certificate Accounting
Name: Laura Joyce
School: Ursuline Convent, Finisklin, Sligo.
Junior Certificate Business Studies
Name: Niamh Frances O’Dowd
School: F.C.J Secondary School, Bunclody, Enniscorthy, Co Wexford
For further information contact: Jillian Heffernan, Head of Communications, BPFI, 087 9016880
The second annual European Financial Forum is underway in Dublin Castle this morning where BPFI and FIBI are joining a host of fellow industry representatives, key decision-makers, and policy-makers to discuss the various forces shaping the global financial services industry.
The Forum, organised by IDA Ireland in association IFS Ireland is a European platform for top decision-makers and influencers in the public, private and regulatory fields of financial services to explore the disruptive forces that are shaping the financial sector into the future and discuss where opportunities lie.
Major themes to be explored today include the financial services landscape; Asia-Europe; and Disruptive Innovation. The Forum will also focus on the latest macroeconomic and regulatory scenarios, and the impact of Brexit and implications for banking and financial services. In addition to a strong European and North American attendance, the forum has also attracted a number of senior contributors and attendees from Asia.
Speakers at today’s event include: An Taoiseach Enda Kenny; Eoghan Murphy T.D. (Minister of State with responsibility for Financial Services); Philip Lane (Governor of the Central Bank of Ireland); Jin Liqun (President of the Asian Infrastructure Investment Bank); Philip Hildebrand (Vice President of Blackrock), Noreen Doyle (Vice-Chair of the Board of Directors of Credit Suisse), Mary Mitchell O’Connor T.D. (Minister for Jobs, Enterprise and Innovation) Sean Berrigan (Deputy DG, DG FISMA, European Commission); James Cowles (CEO, Europe, Middle East and Africa, of Citi Group) and Qi Bin (Executive Vice President of the China Investment Corporation).
Citadel Country Manager, Jonathon Lowey, has been appointed President of the Banking and Payments Federation Ireland (BPFI). He succeeds Bernard Byrne, Chief Executive Officer of AIB plc. Up until the end of 2016, Jonathon was Chairman of the Federation of International Banks in Ireland (FIBI), an affiliate of BPFI.
As Country Manager of Citadel Securities in Ireland, Jonathon is responsible for the operations of its newly-established Dublin offices. Citadel Securities in Europe is expanding its market-making business into new asset classes such as Exchange Traded Funds and Options to complement its current European equities and futures franchise, as well as its growing fixed income, currencies and commodities market-making business.
Prior to joining Citadel in November 2016, Jonathon spent 16 years at JPMorgan, most recently as Senior Country Business Manager, Bank CFO and Interim CEO for its FSP administration companies in Ireland. Before this, Jonathon was Financial Controller in JPMorgan Bank Luxembourg and JPMorgan Fleming Asset Management in Luxembourg, having initially joined as Deputy General Manager of Robert Fleming Luxembourg Branch. Jonathon is a Fellow of Chartered Accountants Ireland and a Certified Bank Director through the Institute of Banking. He worked as an auditor with Deloitte Luxembourg between 1997 and 2000, having trained as an accountant with Grant Thornton in Dublin prior to that. He has a master’s degree and a bachelor’s degree in Economics from University College Dublin and a diploma in accounting from Ulster University.
The EMIR margin requirements for uncleared over the counter (OTC) derivatives will start to apply on 1st March 2017.
This will impose the exchange of variation margin for non-centrally cleared derivatives for all parties (excluding NFC-) subject to various derogation’s and exemptions.
In order to provide a better understanding of the key considerations around this, BPFI, in association with Eurex Clearing, will be hosting a morning seminar on Tuesday 7th February, 9.00am – 12.00pm, with presentations from The Central Bank of Ireland, Eurex Clearing, Clearstream Banking, Quaternion Risk and McCann Fitzgerald.
For a full agenda of speakers, topics and timings. Please click here.
For individual bookings, please click on the ‘Book Now’ button. For organisations wishing to send several of their team, we are pleased to offer further discounts for group bookings (applicable where all attendees are employed by the same organisation and are registered under one booking):
4 for the price of 3
7 for the price of 5
10 for the price of 7
For groups of 12 or more, every second delegate attends free of charge
To take advantage of this opportunity, please complete the registration form available here and send it to Lisa Shevlin at email@example.com
BPFI is currently preparing a response to the European Central Bank’s (ECB) public consultation on a draft guidance to develop clear and consistent definitions, measures and monitoring with regard to leveraged transactions.
The guidance recommends that banks put in place a unique and overarching definition of leveraged transactions and clearly define their strategy for leveraged transactions and appetite for underwriting and syndicating of the latter. Banks should further make sure, through a solid credit approval process and regular monitoring of leveraged portfolios that realised transactions adhere to their risk appetite standards. Finally, the banks’ senior management are expected to be a regular recipient of comprehensive reports about leveraged transactions. The guidance is non-binding and of qualitative nature. BPFI will submit its response ahead of the deadline on 27 January.
BPFI submitted its response in December to the EBA Consultation paper on technical standards on fee terminology and disclosure documents under the Payment Accounts Directive. Feedback was also provided to the European Banking Federation (EBF) on its draft response. BPFI and its members are now working closely with the Department of Finance and the Central Bank in addressing a small number of issues that remain open relating to the Payment Account with Basic Features (PAWBF).
Malta has taken over the rotating Presidency of the Council of Ministers for the first time. A demanding role for a small administration, the first six months of 2017 will be dominated by a number of major political events. The year ahead will see the EU prepare for the 60th Anniversary of the Treaty of Rome, the triggering of Article 50 and the beginning of negotiations on a British exit from the Union in addition to important national elections in the Netherlands, France, Italy and Germany. Nonetheless, the Presidency will strive to drive forward Malta’s key priorities, namely migration, the single market, security, social inclusion and maritime affairs.
The Capital Market Union Agenda, namely the securitisation package and the venture capital regulation, will drive work from a financial services perspective. The Maltese will hope to close negotiations with parliament on the anti-money laundering directive (AMLD) review, and specifically on banking, to begin internal Council discussions on the Risk Reduction Package while also continuing negotiations on a European Deposit and Insurance Scheme (EDIS). The review of EMIR and the proposal on Recovery and Resolution of CCPs will also feature high on the agenda, while many will watch with interest whether the ten participating member states can achieve agreement on the controversial Financial Transaction Tax.