There is broad scienti c consensus that these effects and costs are going to grow exponentially and that the future costs of deferred and inadequate action today also continue to grow. And yet, at global, national, political, economic, business and individual levels our responses and planned actions are woefully inadequate. The pandemic has accelerated and deepened our reliance on technology.
Of course, the bedrock of our macroprudential policy framework is formed by the borrowerbased measures we have introduced in relation to mortgage loans. We view our mortgage measures that put ceilings on loan-to-income (LTI) and loan-to-value (LTV) ratios as essential in limiting systemic financial risk emanating from the mortgage market, while acting to protect consumers from the risks associated with overborrowing.