Public statement relating to Enforcement Action against EBS DAC

Date23 June 2022
Central Bank of Ireland
EBS d.a.c.
EBS d.a.c. reprimanded and fined €13,400,000 by the Central Bank of Ireland
for regulatory breaches affecting tracker mortgage customers
On 22 June 2022, the Central Bank of Ireland (the “Central Bank”) reprimanded and fined EBS
d.a.c. trading as EBS (EBS” or the Firm”) €13,400,000, pursuant to its Administrative Sanctions
Procedure (“ASP”) for a series of significant and long-running failings in the treatment of its
tracker mortgage customers, holding 2,830 mortgage accounts, between August 2004 and June
2020. EBS has admitted to 36 separate regulatory breaches.
The Central Bank determined the appropriate fine to be €19,143,000, which was reduced by
30% to €13,400,000 in accordance with the settlement discount scheme provided for in the
Central Bank’s ASP.
This will be paid to the Exchequer.
The fine is separate from the more than €105,000,000 that EBS has been required to pay to date
in redress, compensation and account balance adjustments to impacted customers, including as
part of the Central Bank’s Tracker Mortgage Examination (theTME”). The TME was established
by the Central Bank as an industry-wide review in 2015 to ensure that lenders were providing
The Central Bank’s “Outline of the Administrative Sanctions Procedure” provides for an e arly
settlement discount of up to 30% in order to promote early resolution of matters, which in turn leads to
better utilisation of the resources of the Central Bank.
All fines collected by the Central Bank are returned to the Exchequer.

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