3 See, among others, Schularick and Taylor (2012); López-Salido, Stein, and Zakrajsek (2017); Mian, Sufi, and  Verner (2017); Adrian, Boyarchenko, Giannone (2019); and Kiley (2018). 4 See, for instance, Svensson (2014, 2017). 5 See, for example, Ajello, Laubach, López-Salido, and Nakata (2018); Guorio, Sim, and Kashyap (2018); and  Adrian and Liang (2018).
6 CCyB also builds financial-sector resilience during periods when financial vulnerabilities are high and there is a  risk of potential losses within the banking sector that could strain the supply of credit.