*** Today I have presented a number of proposals for regulating various issues in relation to mortgage credit in order to make the system more resilient to future developments. The financial crisis has demonstrated that rare misfortunes do actually strike from time to time. This should be taken into account in financial regulation.
This applies not only to banks – but also to mortgage banks. Finally, I would like to thank the Federation for our good cooperation during the past year and for inviting me to speak at today’s meeting. Thank you for your attention. BIS central bankers’ speeches  5