These risks, in turn, are specifically defined, consistent with global understanding and practice. And the means for taking action are what we refer to as Macroprudential Policy. To help put all of the different components, the framework document includes a Scoping Statement that defines the perimeter of our work on systemic risk management.
We remain crystal clear that price stability as well as the safety and soundness of banking institutions are important policy objectives. But we are as clear that cash, capital, and contingent markets, together with clearing and settlements, should be collectively considered when talking about the financial system. Macroprudential policy does not take away from any existing objective.