New eviction legislation held up by banks’ concerns over non-performing loans
Ireland’s mountain of non-performing loans represents a “national systemic risk” in the event of a downturn, the Central Bank governor Philip Lane has cautioned.
The warning comes as the government is struggling to bring in a new law to protect homeowners from repossessions over concerns it could threaten the ability of banks to sell off their bad loans.
Writing in today’s Sunday Business Post, Lane says: “While many households and firms have sacrificed much to reduce debt levels over the last decade, the stock of non-performing loans is still too high and constitutes a national systemic risk ...
