But at the same time, I firmly believe that the forthcoming revision of the CRR and CRD regimes should be used to further simplify the regulation of small and noncomplex institutions adopted as part of the banking package as a way of boosting proportionality. Basel III offers a number of ways to achieve this.
In the light of these observations, there is no reason to change our strategy. Some economists argue that low rates are contributing to speculative bubbles forming, in particular in the housing market. Are they wrong? 2/4  BIS central bankers' speeches  We monitor financial stability very closely. Our assessment is that there are currently no bubbles at euro area level.