Monday April 6, 2020

Regulator warns about high-risk property loans

The financial regulator has warned that banks face serious risks from lending to property developers who purchase greenfield sites without proper security on the loans.

11th November, 2006

The financial regulator has warned that banks face serious risks from lending to property developers who purchase greenfield sites without proper security on the loans.

Pat Neary, chief executive of the Irish Financial Services Regulatory Authority (IFSRA) said he was worried about lending for land purchases where the only security on the loan is the land itself. The regulator is planning a sharp increase in the amount of capital banks have to set aside for...

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