Trainees/graduates of the EDCs are expected to be attached to incubation facilities, where they could commence, practice and perfect their chosen businesses upon graduation before standing independently on their own.
That is why I suggest what is, in essence, a two-pronged agenda: first, near-term action to address current channels where mispricing, run risk, and potential moral hazard are evident; and, second, continuation of the academic and policy debate on more fundamental measures to address these issues more broadly and proactively. BIS central bankers’ speeches  7