The idea is to evaluate the system as a whole and then to quell any vulnerabilities as they emerge. There are some grey areas among the authorities, but the idea behind this is that you’re more likely to have a coordinated, timely response rather than overreacting.
Taking a longer perspective, it is clear the mortgage measures have meant we were in a better position going into the COVID-19 shock than the previous financial crisis. The benefits of the measures are most evident in times of stress.