Dáil Éireann Debate, Thursday - 12 December 2013
60. Deputy Lucinda Creighton asked the Minister for Finance if he is concerned about the decision of a company (details supplied) to renege on its original plan to offer up to €300 million in new Irish mortgages; and if he will make a statement on the matter. [53624/13]
Amharc ar fhreagraIn the first instance, as the Deputy can appreciate, in relation to the company referred to and indeed any company considering entering or expanding in the Irish market, this represents a commercial decision for the company involved.
Mortgage lending decisions must be undertaken on a sustainable and prudential basis by financial institutions and conform fully to the regulatory requirements, both in relation to the financial institution itself, and also with regard to the safeguarding of the borrower's interests. The Central Bank has advised me that it does not comment on commercial decisions or set commercial policy of individual firms. In a supervisory capacity, the Central Bank oversees and reviews bank practices and regulatory adherence.
Government policy is to promote competition in the banking area as this provides choice and options to the consumer and businesses.
