*  *  *  The current euro area environment, with policy rates required to stay low for a prolonged period of time and an apparent disconnect between the business and financial cycle, clearly points to a situation where monetary policy cannot deviate from price stability objectives to influence the financial cycle. This is the task of macroprudential policy.
 Second, the Central Bank has also issued regulations for stored valued facilities offering specific digital payment services. This set outs clear requirements to facilitate the advent of convenient and accessible digital payment services to all consumers, in line with the CBUAE financial inclusion agenda.  Third, the Central Bank is also in the midst of finalizing its crowdfunding regulation.