The Central Bank of Ireland has published its response to consultation CP145 (you can see our response here). On first impressions, it seems that the basic structure of the proposal to set a regulatory leverage cap (which we strongly criticised) has been retained – but there have been helpful concessions that the market will welcome, with the level of the cap moving from 50% to 60% LTV, and the implementation period extended from three to five years.
The central bank’s response document is available here, and a briefing from Arthur Cox analysing it in a bit more detail can be accessed here.