The Irish Banking Federation has said it is not comfortable with the Financial Regulator's threat to prevent banks from setting their own standard variable mortgage rates if they continue to increase rates.
IBF Pat Farrell Chief Executive said today that banks were mindful of circumstances for customers, but it was opposed to regulation of rates.
Matthew Elderfield said last week that banks hiking variable rates were making things worse for customers.
Mr Elderfield said that if banks did not stop he would seek a public policy response to address the issue.
