The aim is to regulate in an  1  See Daniel K. Tarullo (2013), “Macroprudential Regulation,” speech delivered at the Yale Law School Conference on Challenges in Global Financial Services, New Haven, Connecticut, September 20.
BIS central bankers’ speeches  1  explicitly countercyclical fashion through measures that attempt to restrain rapid, unsustainable increases in credit extension or asset prices – either directly or through shifts in incentives – and to relax those measures as economic conditions deteriorate.