The agreement was signed in 1998 and was the stated goal of reducing the importance of individual responsibility; the credit would be based on the borrowers capability to pays his own loans.
Samkomulagið var undirritað á árinu 1998 og var yfirlýst markmið þess að draga úr vægi ábyrgða einstaklinga og að lánveitingar yrðu miðaðar við greiðslugetu greiðanda og hans eigin tryggingar.