Banque de France governor opposes change in granting conditions

The main principles are as follows: Banks do not have the right to sign real estate loans if the total amount of the borrowers’ expenses related to housing exceeds 35% of their income (effort rate), or for a period of more than 25 years, as long as 10% of the total amount of work operations. does not represent These terminals can be bypassed in 20% of cases, although this mainly concerns prime residences and targets, in about a third of cases, first-time buyers.

“Not the subject”

“We put in place common sense measures to avoid over-indebtedness of the home, so that people who take up real estate projects are sure to be able to repay them. Last year we gave them some relief and this is what we call the HCSF criteria,” the governor declared on Europe 1 on Friday evening.

“I say that because he has been criticized at times, including in recent times. I think this is not really a topic anymore as there is up to 20% flexibility to deviate from these criteria. It is only partially used, it is 15% used,” he continued. “I sometimes hear that we should question the HCSF or these criteria. It really sells the illusion because it is not the subject in any way,” said François Villeroy de Galhou.

effort rate

The governor’s position is in contrast to Bersi, who spoke in favor of the bill proposed by Majority Deputy Lionel Cosse, among others. This first aims to “change the composition of the High Financial Stability Council, which includes deputies and senators”, we can read on the website of the National Assembly.