Anthony Lawlor (Kildare North, Fine Gael)
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66. To ask the Minister for Finance if, under the current legislation, the Central Bank of Ireland may instruct banks to set a mortgage deposit at a specific rate, if so, are there plans to introduce such legislation; and if he will make a statement on the matter. [39535/14]

Michael Noonan (Limerick City, Fine Gael)
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The Central Bank of Ireland published a Consultation paper on 7 October 2014 which includes proposals for new macro-prudential measures to enhance the resilience of the banking sector and households to housing market developments.

I understand that the consultation paper proposes a number of measures, one of which is to require lenders to restrict new lending for primary dwelling purchase above 80 per cent LTV to no more than 15 per cent of the euro value of all housing loans for principal dwelling home purposes entered into in a six monthly period.

The Central Bank has now commenced a consultation process on the proposed measures, and submissions and comments on these can be made to 8th December 2014.

The legal basis for the introduction of the proposed measures would be by a regulation issued by the Central Bank under Section 48 of the Central Bank (Supervision and Enforcement) Act 2013.