That said, the ways in which the policy approaches expand the balance sheet – and act to stimulate lending – are different. Quantitative easing can be thought of as an expansion of the central bank's balance sheet with no intentional change in its composition.
Let me now conclude by congratulating you on this important initiative, which will contribute to the further development of efficient and well-functioning capital markets in both countries, and also promote regular interaction between issuers, investors, brokers and others in the interest of growth and development.