Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

The Deputy already knows what the macroprudential rules are and how they are operated so I will directly answer the question he has put to me. With regard to my engagement with the Central Bank, the operation of the macroprudential rules is an independent function of the Central Bank and it is not appropriate for me to contact it on how it operates that policy. It is set and implemented by the Central Bank, through our banks. With regard to our retail banks, I want to underscore that this is a commercial decision made by those banks. They decide to whom and how they lend and what the terms of that loan are. I cannot influence or enforce what that will be; it is a matter for them to make.

That being said, I am aware of the huge importance of this issue in the many communities that have been affected by mica and I will, across the period in which the work of Government is being finalised on this, raise the issue with the banks.

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