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Czech governor pushes lawmakers to back law curbing home loans
June 13, 2017 / 9:10 AM / 7 months ago

Czech governor pushes lawmakers to back law curbing home loans

PRAGUE, June 13 (Reuters) - Czech central bank Governor Jiri Rusnok pushed lawmakers on Tuesday to give the bank more legal powers to tame the growing home loan market as a draft bill gets bogged down in parliament.

The bill would allow the central bank to cap loans if needed according to different income and home value ratios but is at risk of being watered down or failing in the lower house. Critics of the bill say it could shut young couples and families out of the housing market.

“It is obvious that the lower house lacks understanding of the bank using the tools which we are using in our oversight and macroprudential policies in the form of recommendations (currently),” Rusnok said at a news conference on Tuesday at which he presented the bank’s annual financial stability report.

Reporting by Robert Muller and Petra Vodstrcilova; Writing by Jason Hovet

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