Page 8 of 23  In the fall of 2014 and again in the spring of 2015, the Council issued socalled observations entitled "Low interest rates and build-up of systemic risks". 13 An observation is one of the three forms of statements the Council can issue apart from the press release.
But do keep in mind that the government has an obligation to limit systemic risk exposure, and centuries of experience teach us the critical role that financial stability plays in the stability of the real economy. Bankers also have an obligation to their shareholders and creditors to measure and manage risk appropriately.