I hope this is just the first Conference in the line of many where the central bankers from the twelve EU Member States located between the Baltic, Adriatic and Black seas meet and share their experiences. We share a lot of common challenges, while some issues we face are country specific.
This deficit prompted the German Financial Stability Committee, in June 2015, to recommend the Federal Government to create legal foundations for a set of new macroprudential instruments regulating housing loans.