These instruments include a cap on the credit volume relative to the property value (loan-to-value, or LTV, ratio) and a cap on the borrower’s debt servicing capacity relative to their income (debt-service-toincome, or DSTI, ratio). Our work on these instruments does not necessarily mean that they will be activated in the near future.
We do, however, need to be capable of nipping any unwelcome developments in the bud. 7. The European capital markets union  Before I bring my remarks to a close, I would like to take a look beyond the realm of banking regulation. The banking union was without doubt a huge step forward in curbing risk and making it more manageable.