Oireachtas Joint and Select Committees

Thursday, 13 June 2013

Public Accounts Committee

Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed)

2:50 pm

Photo of Kieran O'DonnellKieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

What about loan-to-income limits? Traditionally here it was two to two and a half times principal salary and one to one and a half times second salary and it served us reasonably well. During the Celtic tiger it went up as high as six times one's salary. Could Mr. Elderfield see room for that measure, which is very straightforward? Could he elaborate on the particular engagement with the banks on laying down such rules now?

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