If we find 4  BIS central bankers’ speeches  that the system is being misused to support the housing market, we will take action and perhaps have a friendly talk with the institution in question. We have done that before. Eligibility as collateral must not be a precondition for a given mortgage-credit product.
*** 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.