It is important to recall that neither the price level, nor the level of growth of house prices are the objective. Moreover overall housing policy is not within the mandate of the Central Bank. Rather, the mortgage measures – which we have now had in place for a number of years – are designed to build the resilience of both borrowers and lenders.
Some Danish banks are still struggling, and the near future will also bring mergers and perhaps resolution of banks. But I believe that the problems have now been reduced to a size that is manageable within the existing framework – although a few adjustments may be  2  BIS central bankers’ speeches  necessary.