Central Bank to introduce macroprudential rules for property funds
Gabriel Makhlouf, governor of the Central Bank, said the measures are designed to limit leverage and liquidity mismatches in the institutional property fund sector
The Central Bank of Ireland is preparing to introduce macro-prudential rules that will limit the amount of money institutional property funds can borrow in Ireland. The financial regulator said a cohort of the circa 200 property funds operating in Ireland are currently leveraged higher than their European peers, which it said creates additional vulnerability to price shocks and could result in a wave of property sales in a distressed market situation.
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