The mortgage measures have helped to ensure that those who buy homes now are better prepared to manage their mortgage payments in the event of a future downturn in the economy. Following the review, the framework is broadly unchanged, with some limited refinements. The 3.5 times ceiling on the loan to income (LTI) ratio remains the anchor of the framework.
Today’s meeting is part of a series of more than 40 such gatherings that the Federal Reserve System is conducting across the country. Entitled Addressing the Financing Needs of Small Businesses, these forums are designed to elicit ideas and information that will help the Federal Reserve and others respond effectively to both the immediate and longer-term concerns of small businesses.