It looks like a 15% deposit required rising to 20% over 5 years

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Brendan Burgess

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The RTE What it says in the papers quoted one of the papers today as saying that this is what the Governor is proposing.

Presumably with exceptions allowed as well.

Brendan
 
20%... nice round number... appears very scientific... remarkable the way the numbers were crunched and it came out that 20% is the best figure to use to control lending. Not 21.6%, not 19.33%, not 17.876256%. But 20%?

I presume the calculations applied by the banks to determine what 'exceptions' to grant will be just as scientific.
 
20%... nice round number... appears very scientific... remarkable the way the numbers were crunched and it came out that 20% is the best figure to use to control lending. Not 21.6%, not 19.33%, not 17.876256%. But 20%?

I presume the calculations applied by the banks to determine what 'exceptions' to grant will be just as scientific.

There's a difference between precision and accuracy. When I was studying science you'd get marked down for using a level of precision not warranted by your knowledge of the facts. So yes, 20% almost certainly is "more scientific" than 17.876256% in this case.
 
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