We are also focussing on the additional housing-related systemic risk that might arise from credit cycles in our new macro-prudential policy regime that is currently out for public consultation. While as yet untested in New Zealand, such policies are deployed in Canada, Switzerland, Sweden and Hong Kong, for example.
This will ensure that other academic centres besides Frankfurt also benefit from our support. As you can see, ladies and gentlemen, the Foundation is involved in a wide range of activities. We try to intensify the link between academic research and its practical application. I think that the topic of this third Foundation conference is a good example of this.