The best way to achieve and sustain our maximum-employment and averageinflation goals is by remaining steady and clear in our approach while also being attentive to changing conditions.
A solution must be found to this, and it must not involve leaving the mortgage bonds to bear the losses. Our preferred solution remains that mortgage credit institutions should be covered by bail-in and MREL requirements. A bail-in allows for impairment charges to be made on the debt instruments that rank higher than mortgage bonds.