As previously stated, the shorter settlement cycle will reduce systemic risk and release funds earlier into the market, thereby increasing liquidity for local and international investors which will translate to growth in our capital markets and also enhance public confidence. With these words, I would like to thank you all very much. BIS central bankers’ speeches  3
The Congress enacted HOEPA in 1994 in response to concerns about abusive lending in the home equity market, and the Federal Reserve Board was given broad authority to implement its provisions and to adopt regulations that the Board finds to be necessary and proper to effectuate its purposes.