Banks hit back at Central Bank criticism
Some lenders say government policy and new regulation have actually made it harder for them to deal with the high level of mortgage arrears, writes Jon Ihle.
Lenders and financial advisers have reacted with frustration and confusion to recent threats from the Central Bank that banks will have to raise extra capital or face other unspecified sanctions if they don't deal with the problem of mortgage arrears more quickly.
Mortgage market sources have complained that Central Bank governor Patrick Honohan and his senior executives have failed to back up critical statements with specific actions, while giving a public impression that the banks...
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