Similarly in Ireland, lending was often occurring at LVRs over 100 percent. Annualised house price growth peaked at 16 per cent and 15 per cent in the US and Ireland in the lead up to the GFC before falling sharply. The subsequent sharp downturns gave rise to considerable financial distress in both countries, with high LVR borrowers particularly hard hit.
I wish the Cross-boundary Wealth Management Connect pilot scheme a great success! Thank you! 2/2  BIS central bankers' speeches