Recommendation of the European Systemic Risk Board on medium-term vulnerabilities in the residential real estate sector in Finland

Finland must amend its legal framework to include legally binding limits on the debt-to-income (DTI) ratio, debt-service-to-income (DSTI) ratio, loan-to-value (LTV) ratio, and loan maturity, with amendments required by 1 July 2021. Pending this legislative change, Finnish authorities must apply non-legally binding borrower-based measures to prevent vulnerable households from taking on unsustainable mortgage debt. Once the legal framework is updated, authorities are required to activate and calibrate legally binding income-related measures to address medium-term systemic risks. Implementation reports must be submitted to the ESRB and the Council by 31 October 2020 and 31 March 2021.

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EUR-Lex - 32019Y1030(05) - EN

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Source: European Systemic Risk Board — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works