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Ireland's Financial Regulator Concerned About Debt

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"Concerned" with private sector debt rising at the rate it is - heck it is only 10 times the rate of inflation (supposedly). Lending standards can't be dropping no sireee, sureleee not.


DUBLIN (Reuters) - Ireland's financial regulator is investigating lending practices at Irish financial institutions due to concerns about the high level of indebtedness in the country, its chief executive said on Thursday.

"We are involved as we speak with the institutions in questioning them and their internal audit systems to ensure that the loan standards are not falling and we are involved in that process at the moment," Liam O'Reilly told Reuters.

"The level of indebtedness is certainly something that's on the radar here in Ireland and something, a warning note, which was sounded by the central bank, that can be echoed by ourselves," he added in an interview.

Private sector debt grew at an annual rate of 28.6 percent in September and Ireland's central bank has cited credit growth as the main risk to the fast-growing economy.

Edited by OnlyMe

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  • 336 Brexit, House prices and Summer 2020

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