Ireland's cb admit sflaw in housing model

The Central Bank of Ireland has admitted that the housing model used to produce its first financial stability report last week is flawed. Reports said the current model does not take adequate account of the effect on lenders of a shock to the Irish housing market.

The Irish Central bank is now working with the Bank of England, Germany's Bundesbank and other central banks to develop a more appropriate mode, the Sunday Times reported.

Frank Browne, head of monetary policy and financial stability

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