As we met with bankers and listened to them describe the threat to their role in residential mortgage lending posed by the proposed mortgage risk weightings, I realized that we had very little data about mortgages on the books of community banks. Much of our research has focused on securitized loans.
As I had the opportunity to discuss during my regular hearing before the Committee on Economic and Monetary Affairs, and as your draft resolution points out, the priority now is to increase the resilience of the euro area.