Central Bank Governor Gabriel Makhlouf has said the ongoing review into the bank's mortgage lending rules "is not a signal that rules are going to be relaxed."
The Governor made his remarks in response to a question at an online event today hosted by the Economic and Social Research Institute.
Gabriel Makhlouf said the review of the mortgage rules would continue into next year and the Central Bank will still publish its annual decision on lending rules later this month.
He said the lending rules are not the solution to Ireland's dysfunctional housing market, which he said is "ultimately" a question of supply.
But he also said, however, that the provision for lenders to go above the lending limits in some circumstances "was not working as well as it should be".
Governor Makhlouf said the Central Bank had received 4,000 responses from the public to an online survey on the lending rules.
He said the bank is planning to "report back to the public" with feedback and analysis next month.
He said the mortgage rules, which were introduced in 2015, have been very successful in preventing "reckless lending and reckless borrowing".
However, after six years, he believed it was time for a review.
One of the issues the Central Bank is currently looking into is the growing role of non-banks in lending, including mortgage lending.
The review would be a "serious job of work," he added.
