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The Possible Distributional Effects of the Loan-to-Value Ratio and its Use as a Macro-prudential Tool by the European Systemic Risk Board

Research output: Contribution to journalArticle

Original languageEnglish
Pages (from-to) 266
Number of pages270
JournalJournal of International Banking Law Review
Issue number7
Publication statusPublished - 2013

King's Authors


Evaluates the benefits and disadvantages of attempting to prevent excessive rises in house prices by applying an adjustable loan-to-value (LTV) ratio by a macroprudential supervisor such as the European Systemic Risk Board. Outlines the justifications for capping the LTV ratio, and reflects on the political and public pressures such a cap would create for the supervisor, including the risk of excluding first-time buyers and the need to take account of local arrangements in various Member States.

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