Irish central bank says draft NPL law could worsen bank crises

The Central Bank of Ireland
The Central Bank of Ireland
William Murphy

The Central Bank of Ireland said today (April 2) it has “significant concerns” about a draft law on the resale of property loans, a warning echoed by the European Central Bank.

The “no consent, no sale” law would severely limit banks’ ability to sell on mortgages to management companies. Debtors with non-performing loans (NPLs) would have to give their consent before a lender could transfer the ownership of their debt to another firm.

Irish lawmakers voted on January 31 to support the draft

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: