Truncating a hash function to 224 bits put it at the 112-bit security level, which is roughly equivalent to 2048-bit RSA under today's understanding of the costs of distributed cracking attacks.

There are a lot of standards organizations all over the world with various recommendations. https://www.keylength.com collates quite a few of them. Pick the one most closely relevant for your jurisdiction.

Most of them recommend 2048-bit RSA as their minimum for asymmetric security, and AES-128 / SHA-256 as their minimum for symmetric security. This is a [112, 128]-bit security lower bound.

Truncating a hash to 160 bits yields 80-bit security, which is insufficient. 128 bits (64-bit security) is out of the question.