Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I raise with the Minister the new Central Bank rules on deposits for mortgages. In particular, I want to ask him if he has asked the Central Bank to review the operation and impact of these macro-prudential rules which are undoubtedly having a significant impact on the ability of first-time buyers to purchase a home and of many families who are currently in an unsuitable dwelling or apartment to trade up because they are now subject to the full 20% rule. Both the Minister for Finance and the Minister for the Environment, Community and Local Government, Deputy Kelly, have made adverse comments on these rules and I would like to know if the Minister has requested the Central Bank to conduct a review of these new mortgage deposit rules.

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