Of course, financial innovations and outsourcing arrangements come with their own set of risks which could pose challenges for the overall policy framework for the pursuit of financial stability. But I will discuss this a little later.
See Board of Governors of the Federal Reserve System (2014), “Federal Reserve Issues FOMC Statement”, press release, March 19, paragraph 5. 5  See Board of Governors, “FOMC Statement”, March 19, 2014, paragraph 5, in note 4. 6  See Board of Governors, “FOMC Statement”, March 19, 2014, paragraph 6, in note 4. 2  BIS central bankers’ speeches