BIS central bankers’ speeches  3  We believe several instruments may be useful from this perspective and could potentially form a useful part of the Bank’s macro-prudential toolkit in the future. The instruments we have been considering include credit-based measures and liquidity and capital buffers.
We have been analysing these policy options in a New Zealand context, undertaking some simulations and other calculations to help establish their likely effectiveness. Our expectation is that we would use these tools infrequently.