The question, however, is whether during the earlier phase it should be tighter than normal, in order to try to lessen the probability of a bust, at the expense of having somewhat lesser short-term growth and inflation lower than the announced target.
All three regulators have benefitted from the stakeholder comments provided through comment letters, roundtables, and meetings. There is significant interagency agreement on the objectives of CRA reform and many of the ideas in the ANPR reflect interagency discussions and regulatory proposals.