{"id":2891,"date":"2017-06-14T07:00:59","date_gmt":"2017-06-14T06:00:59","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=2891"},"modified":"2017-06-14T07:00:59","modified_gmt":"2017-06-14T06:00:59","slug":"czech-central-bank-cracks","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-hk\/2017\/06\/14\/czech-central-bank-cracks\/","title":{"rendered":"Czech central bank cracks down"},"content":{"rendered":"<p><strong>The Czech central bank has increased its efforts to cool the housing market.<\/strong><\/p>\n<p>Concerned that rapidly rising house prices may spiral out of control and hurt lenders, the central bank is planning to increase banks\u2019 counter-cyclical capital requirements.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"xzhrOJpeky\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/05\/26\/greek-property-prices-continue-fall\/\">Greek property prices continue to fall<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Greek property prices continue to fall&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/05\/26\/greek-property-prices-continue-fall\/embed\/#?secret=TcGzRDmNsJ#?secret=xzhrOJpeky\" data-secret=\"xzhrOJpeky\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Despite the Czech Republic having one of Europe\u2019s lowest levels of housing loans, with Czech mortgages representing a much smaller share of the economy than in other western nations, the central bank (CNB) will be increasing its counter-cyclical buffer by 0.5% to 1% from July 2018.<\/p>\n<p>\u201cHome loans represent the biggest source of risk for the stability of our banking industry,\u201d commented governor Jiri Rusnok. <\/p>\n<blockquote><p>\u201cWe need to use these good times to create reserves that will allow the banking sector to function without problems in worse times as well.\u201d<\/p><\/blockquote>\n<p>Apartment prices in the Czech Republic rose by 15% last year, fuelled by a combination of low interest rates and broader economic growth. Meanwhile, the amount of new mortgage loans provided in 2016 was almost three times the amount provided in 2009.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"UXkmc4fzTS\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/01\/20\/nine-best-places-invest-in-property-revealed\/\">The nine best places to invest in property revealed<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;The nine best places to invest in property revealed&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/01\/20\/nine-best-places-invest-in-property-revealed\/embed\/#?secret=tJ8kO9VZNB#?secret=UXkmc4fzTS\" data-secret=\"UXkmc4fzTS\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>\u201cCredit providers should abide by the CNB\u2019s recommendations just like skiers follow the ten golden rules for keeping safe on the slopes \u2013 you cannot just plunge headlong down the slope thinking things will somehow work out,\u201d Rusnok is quoted as saying.<\/p>\n<p>The CNB also published the results of regular stress tests, saying that the nation\u2019s banks remained highly resilient to potential economic shocks. Under an adverse test scenario of a protracted recession and deflation, the industry would require a combined capital injection of 12.5 billion koruna (\u00a3420 million), or 0.3% of gross domestic product.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Czech central bank has increased its efforts to cool the housing market. Concerned that rapidly rising house prices may spiral out of control and hurt lenders, the central bank is planning to increase banks\u2019 counter-cyclical capital requirements. Greek property prices continue to fall Despite the Czech Republic having one of Europe\u2019s lowest levels of<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-hk\/2017\/06\/14\/czech-central-bank-cracks\/\" title=\"ReadCzech central bank cracks down\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":1069,"featured_media":4306,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[141],"tags":[311,67,214,312],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/posts\/2891"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/comments?post=2891"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/posts\/2891\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/media\/4306"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/media?parent=2891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/categories?post=2891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/tags?post=2891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}