So you don’t see a risk in this policy over the long term? Is there no systemic risk? Our current monetary policy is designed to respond to a very specific situation, namely to a low growth, low inflation environment which should not last forever.
The agencies will collaborate in determining the lessons learned and in seeking ways to better cooperate in ensuring effective and consistent examinations and improved enforcement of all categories of mortgage lenders. We are also working toward finalizing rules under the Truth in Lending Act that will require new, more informative, and consumer-tested disclosures by credit card issuers.