In the same vein, the development of the repo market drives further development of the futures market by boosting the liquidity of the JGB market. Hoping for such positive feedback to continue, I would like to talk about the international discussions on repo market reform. I will also touch on issues related to the role of market participants and the Bank in such discussions.
While the November 2016 revisions to the mortgage rules did raise the maximum loan size for first-time buyers seeking to buy homes above € in value, it is important to take into account several considerations. First, borrowers also have to satisfy the LTI requirement, which remains unchanged at a cap on loans of 3.5 times income.