If global savings are to truly be channelled into advancing sustainability goals, central banks can play a role. We can help design the appropriate framework for disclosure and investments as a public good, for example. A functioning financial system is necessary to act as a catalyst for change.
BIS Review 55/2008  3  effective, such programs must be tightly targeted to borrowers at the highest risk of foreclosure, as measured, for example, by debt-to-income ratio or by the extent to which the mortgage is "underwater." Finding the right balance – particularly the need to avoid programs that give borrowers who can make their payments an incentive to default – is difficult.