The Central Bank has today expressed concern about the recent surge in residential property prices.
In a review published today, it says the rising trend, particularly in Dublin, is similar to that seen a decade ago.
It is urging banks to apply appropriate lending standards when issuing mortgages.
Officials say they are taking too long to deal with customers in long-term mortgage arrears and those behind in repayments on buy-to-let home loans.
The report also finds that Irish banks returned to profit this year for the first time since 2008.