Similarly, I have seen one particular bank’s lending rate for automobile loan vary quite widely. I do not know why a standardized loan product like an automobile loan should be priced differently for different customers when it is a secured loan.
We remain crystal clear that price stability as well as the safety and soundness of banking institutions are important policy objectives. But we are as clear that cash, capital, and contingent markets, together with clearing and settlements, should be collectively considered when talking about the financial system. Macroprudential policy does not take away from any existing objective.