By having a common set of standards for the mortgage servicing industry, the financial regulatory agencies will emphasize the importance of servicing practices that promote the best interests of borrowers and the broader housing market. Let me turn finally to mortgage credit.
The Eurosystem Resolution Liquidity (ERL) tool Last but not least, the ECB is considering now a new policy tool, the Eurosystem Resolution Liquidity (ERL) tool that would allow it to inject cash into banks under resolution, in other words, when are being rescued from the threat of insolvency.