Over the last decade, the Central Bank has proactively worked in conjunction with the Oireachtas, the Government, state agencies and international counterparts to strengthen the solvency and stability of the financial sector and enhance protections for consumers. We believe that a strong consumer protection framework is essential.
This is particularly the case for mortgage borrowers, as a mortgage is the most significant financial commitment for most families and individuals. That is precisely why we advocated for a legislative regime whereby borrowers would be protected regardless of whether their loan was held by a bank or a non-bank. This is now the case.