I'm not really sure where this question belongs, so I'm trying here.
Did the Central Bank have the power to force Irish banks to curtail certain types of mortgages (e.g. 100%) or could they only advise and hope that the banks complied?
I know they introduced new reserve rules to make high LTV mortgages more expensive for banks but did they have the power to say "That's it - max LTV is now 90%".
Did the Central Bank have the power to force Irish banks to curtail certain types of mortgages (e.g. 100%) or could they only advise and hope that the banks complied?
I know they introduced new reserve rules to make high LTV mortgages more expensive for banks but did they have the power to say "That's it - max LTV is now 90%".