Mortgage Measures Framework Review

(Ensure cookies are turned "on" to load the video above) | Transcript of the video "Mortgage Measures Framework Review - Update December 2021".

Central Bank of Ireland is conducting a comprehensive review of the mortgage measures framework to ensure that the measures continue to remain fit for purpose, in light of changes to our financial system and economy since they were first introduced in 2015.

Public & Stakeholder Feedback

Listening to the public is one of the key elements of our review. We are very aware of the challenges that the current housing market poses for many people, especially younger generations. At their core, these challenges stem from an underlying imbalance between the demand for, and supply of, housing.

In July 2021 we conducted an online survey alongside a series of listening events where we asked the public and other stakeholders to share views and experiences on the functioning of the mortgage measures, as well as perspectives on what a sustainable mortgage market looks like. The following reports provide summaries of the rich and valuable feedback we have received – all of which has helped inform the next stage of our review.

Summary Report – Mortgage Measures Framework Review Listening and Engagement Events | pdf 637 KB Mortgage Measures Framework Review – Detailed Results of the Online Public Engagement Survey | pdf 2867 KB

Public Consultation & Next Steps

In conjunction with the publication of our proposals, we have launched a public consultation.

The consultation closed 16 March 2022. The Central Bank will now consider the feedback it receives on the consultation paper.

On 26 - 27 April the Central Bank held a conference "Macroprudential mortgage measures: lessons on design, implementation and effectiveness."

This feedback from the consultation and conference, in addition to further research and analysis by the Central Bank, will inform the final conclusions on the design of the framework.

The Central Bank will then consider the implications for the calibration and implementation of the mortgage measures. The framework review is due to conclude in the second half of 2022.

CP146 – Mortgage Measures Framework Review | pdf 1537 KB

2021 MMFR Timeline

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