Lenders asked to comply with bank credit controlsBy Crystal Hsu / Staff reporterThe central bank yesterday said that it had met with 36 local lenders and the National Federation of Credit Cooperatives to make sure they comply with credit control measures when processing mortgage applications. The central bank made the closed-door meeting known in a statement yesterday to highlight its resolve to cool the local property market. Lenders should also warn borrowers of potential interest rate increases when global central banks reverse their loose monetary policy stances, the central bank said. Yang on Thursday said that credit controls are not effective in curbing housing transactions, though they have achieved the goal of maintaining the nation’s financial stability. Sinyi Realty Inc (信義房屋) said the market would need more time to assimilate the ban on grace periods.

Source: Taipei Times October 01, 2021 15:56 UTC