##pate a dynamic job market, diverse career paths, and the opportunity to work on groundbreaking projects that will shape the future of finance. i've highlighted the opportunities arising from the growing demand for fintech talent, and the market potential stemming from the gba area. the next question is, how can our younger generation, including the students here today, seize these opportunities? the fintech ecosystem has undergone remarkable growth and development in the last few years. as the financial services industry embarks on the next phase of digital transformation and innovation, there is a pressing need to unlock the full potential of fintech. 2 / 3 bis - central bankers'speeches at this critical juncture in our fintech journey, the younger generation will be a vital source of fresh ideas, driving further breakthroughs and advancing more innovation. here, i would like to offer three pieces of advice for you. first, you need to stay curious, keep learning and remain adaptable. things are changing fast, and you need to ensure that you stay up - to - date with the latest trends and developments. secondly, you need an entrepreneurial mind - set to think creatively about applications and explore innovative business models that can bring benefits to the real economy. it is essential to remember that innovation is not an end in itself, but it is really about using technology to make our life better, to make financial services either faster, more efficient, or more accessible. my third advice is that you need to stay open - minded about new, or even radical ideas, and to stay global on fintech trends, so that you can find inspiration to turn them into new ideas for local applications. in closing, i would like to extend my best wishes for the success of this summit, and my appreciation for the dedication of every partner and participant in this initiative. let's continue to grow our fintech talent together for a sustainable ecosystem. thank you. 3 / 3 bis - central bankers'speeches

##udential instruments for the real estate market ; germany, by contrast, does not have the requisite legal basis as yet. to close this gap, the fsc submitted a recommendation to the federal government on 30 june 2015 proposing the creation of new macroprudential instruments for the residential real estate market. i would expressly point out, however, that this step does not mean that these instruments will be deployed or activated. the fsc is recommending four instruments : a cap on the loan - to - value ( ltv ) ratio, a cap on the debt - to - income ratio / debt - service - to - income ratio as well as an amortisation requirement. an ltv ratio, for instance, specifies a minimum amount of equity capital which a debtor must contribute to a residential real estate financing transaction. these instruments have two objectives. one is to reduce the likelihood of overindebtedness and thus of crises. the other is to stem the effects of crises, should they occur anyway, by means of larger risk buffers. if these instruments are activated in the future, an ex post impact analysis should be carried out. that calls for sound data, which is why the committee ’ s recommendation asked for the creation of a legal basis for the collection of granular data and a mandatory ex post impact analysis. 3. how do data fit into the equation? but what are “ sound data ”? the lessons learned from the us experience tell us that a loosening of credit standards for subprime households can be one of the major root causes of financial crises. a development of that kind can only be identified if granular data are to hand. the bundesbank has responded to the need for higher - quality and above all granular data by establishing its research data and service centre ( rdsc ). 1 a new project has been launched to administer and link microdata and macrodata, and to make them available to both bundesbank and external researchers. at present, ten members of staff are busy capturing, compiling and maintaining these data, which are being used in 120 projects. internationally, too, a host of initiatives have been kick - started in an effort to close data gaps. for instance, europe ’ s central banks will, in the coming years, be setting up anacredit, a comprehensive database which will help them to link loan - level data and banks ’ balance sheet data. that kind of data pool would open up a wealth of