A difference of opinion arose in Austria between the government and the central bank on the household debt brake


Austria must keep its mandatory mortgage lending regulations introduced in August, the Austrian National Bank (OeNB) responded on Tuesday to the recent suggestion by Finance Minister Magnus Brunner that these rules should be revised in order to facilitate lending, reports Reuters.

“The newly adopted regulation contributes to the preservation of financial stability by curbing the excessive development of residential real estate lending,” reads the statement on the semi-annual financial stability report about the regulation, which was introduced by the FMA banking supervision, an institution independent of the central bank, which also includes the Minister of Finance. based on the preparatory work of the Financial Stability Board.

The annual growth rate of bank loans to households has slowed down recently, but it was still 4.7% in September, which is more than at any time between 2008 and 2020, the OeNB announced.

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Source: Portfolio.hu – Bank by www.portfolio.hu.

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