To assess the risks associated with the unwinding of those policies, we have to identify the unintended consequences that they have caused. The transmission of extraordinary monetary stimulus to higher economic growth was meant to work primarily by enticing more risk taking by economic agents.
Slovakia has progressively tightened share of loans with LTV ratios and introduced recommendation on maximum maturity and requirement for income verification and internal borrower repayment assessment for banks. And Lithuania, as you know, has been implementing its Responsible Lending Regulation since autumn 2011.