I strongly welcome this development and encourage further work and discussions on this important topic, including on specific ways to create macroprudential space. While it would be premature to envisage a certain outcome at this point, I would like to suggest three guiding principles for further deliberations on this topic. First, the creation of macroprudential space should be capital-neutral.
Please do not wait 18 months until you are obliged to comply with the security requirements enshrined in the RTS. Take action soon, as these measures are necessary to mitigate threat scenarios of which you are well aware. For example, strong customer authentication solutions with dynamic linking of the authorisation to the specific amount and payee will help to prevent man-in-the-middle attacks.