Dáil Éireann Debate, Tuesday - 3 November 2015
335. Deputy Pearse Doherty asked the Minister for Finance to report on his discussions with Allied Irish Banks on the macroprudential rules introduced by the Central Bank; and if he will make a statement on the matter. [38336/15]
View answerAs the Deputy is aware, I met AIB and the other main Irish banks last September. The primary purpose of these meetings was in relation to mortgage rates, but some other banking-related issues, including the Central Bank macroprudential measures for residential mortgage lending, were also raised. In that regard, AIB provided me with an update on the roll out by it of the new macro prudential rules. As the new rules only came into effect in February, it was still at a very early stage in the operation of the new framework. Nevertheless, AIB did confirm that it was both willing and in a position to provide mortgage finance to credit worthy borrowers for house purchases. It also indicated that it will continue to liaise and work closely with the Central Bank on the operation and practicalities of the new macroprudential framework and that if any issue arose it would raise the matter with the Central Bank.
