Permanent TSB has said it will allow about 70,000 mortgage customers on standard variable rates of 4.5 per cent to move to new rates that will start from 3.7 per cent. File photograph: Alan Betson/The Irish Times

AIB and Bank of Ireland have said they will keep their variable mortgage rates under review, following Permanent TSB’s move to cut its rates and a hin(...)

Treasuries advanced with the yen and gold as the market fell and investors sought haven assets. Photograph: Chris Ratcliffe/Bloomberg

Stock markets around the world wobbled yesterday on concerns that Greece would exit the euro. By 3pm in New York, US stocks had declined the most sin(...)

Shares erased a decline of as much as 0.8 per cent after an official said Greece’s creditors proposed a five-month extension to the aid programme and €15.5 billion in disbursements to help seal a debt agreement. Photograph: Simon Dawson/Bloomberg

European stocks were little changed, after swinging between gains and losses, as investors weighed the possibility of a successful outcome to last- d(...)

Banking Inquiry: Former secretary general, Department of Finance Kevin Cardiff recounted a hilarious Sir Humphrey-type conversation at the time with a colleague from another country. Photograph: Leah Farrell/Photocall Ireland

It turns out that Ireland’s double Eurovision winner Johnny Logan isn’t just popular in Turkey. Kevin Cardiff said yesterday that Logan was also a hit(...)

Cyril Roux, the Central Bank’s deputy governor for financial regulation:  “imperative that firms have proper systems and controls in place” to ensure lenders are delivering appropriate solutions for consumers.    Photograph: Dara Mac Donaill/The Irish Times

Seven mortgage lenders in Ireland have been found to be in breach of the Code of Conduct on Mortgage Arrears (CCMA) following inspections by the Ce(...)

 It’s likely the only way rates will fall  to a level enjoyed by our European counterparts – despite the efforts of Government – is if new entrants come in. Photograph: Rui Vieira/PA Wire

Against a background of increasing pressure from the Government to bring Irish mortgage variable rates into line with European competitors, banks are (...)

The report supports earlier comments made by Patrick Honohan, the outgoing governor of the Central Bank. Speaking last February at the Trinity Economic Forum, Mr Honohan said first-time house buyers clearly represent a safer prospect for lenders. Photograph: Matt Kavanagh/The Irish Times

First-time buyers are 30 per cent less likely to default than those trading up or down, research from the Central Bank has found. In a technica(...)

 Royal Dutch Shell chief executive Ben van Beurden. In London, the company’s shares fell 2.1 per cent, trimming nearly 10 points off the FTSE 100.  Photograph:  Benoit Tessier/Reuters

European stocks slid, erasing a weekly gain, amid increasing concern that Greece’s efforts to renegotiate its debt and stay in the single currency (...)

Former financial regulator Liam O’Reilly: “In future, the Financial Regulator must adopt a more intrusive and aggressive approach.” Photograph: Bryan O’Brien

The banking crash of late 2008 was like an iceberg waiting to be hit, the former financial regulator Liam O’Reilly has said. Mr O’Reilly, who served (...)

Cyril Roux, deputy governor (Financial Regulation) at the Central Bank of Ireland, arriving at Leinster House for the Banking Inquiry. Photograph: Sam Boal/Photocall Ireland

The current supervisory regime for financial institutions is robust enough to prevent another banking crisis, but it might not be able to defend the s(...)