6  BIS central bankers’ speeches  Publication of policy deliberations As you know, at the ECB we have been discussing publishing some kind of record or “accounts” of our Governing Council meetings. What, and how much, of our policy deliberations should we publish? These questions are very much part of this old debate about our communication I mentioned before.
BUT this does not mean that a business model based on Danmarks Nationalbank as the backstop is expedient for private-sector financial institutions. That is not a sustainable solution. One of the strengths of the Danish mortgage credit model should be that it is, inherently, so robust that no subsidisation whatsoever is required. That is exactly what the balance principle aims at.