In an exuberant financial market, this may not be enough to offset the prospects of gain that seem readily available when every asset price is going up. Instruments with quantitative limits like the LTV/DTIs can be more effective in dealing with housing booms because they restrict borrowing in a more direct way. Of course these instruments are not perfect. Ono et. al.
If, realistically, sufficient progress cannot be expected in the medium term to establish EDIS and fine-tune the existing framework, then let’s concentrate on preserving the great value of the project. 2/2  BIS central bankers' speeches