Ireland loosens credit union rules to spur green loans
Central bank expresses hope for more sustainable lending as it increases capacity from €2.9bn to €9.9bn
Ireland’s credit unions will have an easier time lending to businesses and homeowners thanks to forthcoming regulatory changes announced yesterday (August 14) by the central bank.
In a statement, the Central Bank of Ireland said that from September 30 credit unions would be able to lend up to 30% of their total assets for “house loans” and provide up to 15% of their total assets in business lending. The bank said the changes should increase credit unions’ total lending capacity from €2.9 billion
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