Central Bank does not want interest enforcement power

The Central Bank has told the Government it does not want the authority to require banks to pass on interest-rate reductions to mortgage holders and other clients.

14th November, 2011
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The central bank has told the Government it does not want the authority to require banks to pass on interest-rate reductions to mortgage holders and other clients, *The Irish Times* reported, citing a letter to the Taoiseach on November 11th.

The bank would prefer to deal with the issue as part of its wider regulation of the banking sector, the report said, citing the letter, signed by Mathew Elderfield, deputy governor of the central bank.

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