Very broadly, the framework has three pillars: I. measures to strengthen the resilience of banks, where the level of capital is key; II. measures to strengthen the resilience of borrowers and lenders, including through the mortgage rules; and III.
continued consideration of the need for, and possible design of, measures to strengthen the resilience of market-based finance, where the macroprudential framework is still under development. First, bank capital. The framework for bank capital has developed incrementally as we have implemented policy reforms following the crisis. Earlier, I announced the results of our decisions on the Countercyclical Capital Buffer and the OSII Buffer.