OREANDA-NEWS. The Central Bank of Ireland today published the latest Household Credit Market Report H2 2016.  The report collates information from internal and external sources to give an up-to-date picture of developments in the household credit market in Ireland.

The report finds that household debt sustainability in Ireland continues to improve. It also finds that the overall value of mortgages in arrears continues to decline, falling to €17.6bn in Q2 2016, down from €19.9bn in Q2 2015 and the peak of €27.66bn in Q3 2013.  The Q2 2016 figure represents approximately 14.3 per cent of total mortgage balances.

The report also features three boxes.

Box 1: The Financial Resilience of Mortgaged Irish Households, which carries out an exercise that shows the Irish mortgage market has become more resilient in the aftermath of the crisis.

Box 2: Monitoring Template Data of the Central Bank of Ireland, which presents new loan-level data submitted to the Central Bank following the introduction of the macroprudential mortgage measures in 2015. These measures were introduced to protect households against over-indebtedness and safeguard the stability of the banking system, in line with the Central Bank’s mission of safeguarding stability, protecting consumers.

Box 3: Mortgage Default: A European Comparison, which contextualises the level of mortgage default at Irish banks from a European perspective.