The proposed regulations are designed to protect consumers from excessive layering of risk even as the practices that increase risk may change. We have sought to ensure that these standards are clear for lenders to reduce unintended consequences for consumers. Though clear, the standards are intended to be not overly prescriptive, so as to preserve access to responsible credit while amply protecting consumers.
Jean-Claude Trichet: (Under-)pricing of risks in the financial sector Speech by Mr Jean-Claude Trichet, President of the European Central Bank, at the Coface Country Risk Conference 2009, Paris, 19 January 2009. * I.