In the post-crisis years, Lithuania has been eager to find an 2/4  BIS central bankers' speeches  effective combination of macroprudential policy measures. In 2011, we were among the first in the EU to establish restrictions on loan-to-value, debt-service-to-income, and loan maturity. I have to say that, in introducing those measures in 2011, we did so without having a clear legal mandate.
We introduced them by using secondary legislation, based on general provisions under the law governing the functioning of the Bank of Lithuania. As I mentioned, we only received a clear legal mandate for implementing macroprudential policy three years later.