Central Bank sees big response to mortgage consultation

📆 4/26/2022 8:22 PM
📰 RTEbusiness

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The Deputy Governor of the Central Bank, Sharon Donnery, has said the response to its public consultation on the mortgage rules framework has been the largest ever received by the bank.

They were introduced in 2014 and are currently undergoing an extensive review. This review began last year and is expected to be completed later this year.

In her opening address today, the Deputy Governor said the rules have always aimed to increase"the resilience of banks and borrowers to negative economic and financial shocks" and to prevent credit-house price spirals from emerging again. Ms Donnery repeated evidence from studies carried out by the Central Bank and the ESRI that prices would have been higher were it not for the mortgage rules.

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