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Amendment of Eesti Pank Governor’s Decree No 17 of 12 December 2014 “Limits on granting housing loans and maximum loan maturity”

Issuer:Governor of Eesti Pank
Type:regulation
In force from:01.04.2016
In force until: In force
Translation published:03.11.2016

Amendment of Eesti Pank Governor’s Decree No 17 of 12 December 2014 “Limits on granting housing loans and maximum loan maturity”

Passed 22.06.2015 No. 5

This Decree is established on the basis of subsection 83 (21) of the Credit Institutions Act.

§ 1. Eesti Pank Governor’s Decree No 17 of 12 December 2014 “Limits on granting housing loans and maximum loan maturity” (RT I, 08.04.2015, 14) is amended as follows:
1) the following subsection 11 is inserted in section 1 of the Decree:
“(11) The requirements specified in subsection 1 of this section must be met at the moment when the amount of a housing loan (or, in the event of granting the housing loan in instalments, the first instalment of the loan amount) is granted to the disposal of the borrower.”;
2) subsection 3 (2) of the Decree is amended and worded as follows:
“(2) The loan-to-value ratio may be up to 85%.”;
3) subsection 4 (2) of the Decree is amended and worded as follows:
“(2) The debt service-to-income ratio may be up to 50%.”;
4) section 6 of the Decree is amended and worded as follows:
Ҥ 6. Limit for permitted exceptions
Exceeding the limits specified in section 3 and/or 4 of this Decree and/or for a longer maturity than set forth in section 5, a credit institution may issue up to 15% of the total amount of new housing loans issued within one quarter.”.

§ 2. This Decree enters into force on 1 April 2016.

Ardo Hansson
Governor

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