The regulations providing for the macro prudential measures are currently being finalised by the Central Bank in advance of being laid before the Houses of the Oireachtas. However, the Central Bank has advised that the draft regulations issued with Consultation Paper 87 referred to "housing loans" which is basically a loan between a lender and a borrower which is secured on residential property (where a borrower means a 'person' to whom a housing loan is granted). A 'person' in that sense incorporates both legal (i.e. corporates) and natural persons and accordingly, where the loan is secured on a residential property, the regulations would apply irrespective of the legal personality of the borrower.