Policymakers "must not forget the full costs of financial instability and the distress it can cause," Luci Ellis, head of the Financial Stability Department at the Reserve Bank of Australia, has cautioned."History does tell us that it is possible to forget good credit risk management," Ellis told a Real Estate Symposium at the University of New South Wales yesterday."One of the things we risk forgetting about property markets and financial stability, and about risk more generally, is that it is possible to forget," she said." As we get further away from the peak of the [2008] crisis, increasingly we will hear points of view questioning what the fuss was all about - if there is indeed a trade-off between growth and financial stability, and that's by no means settled."Ellis said that: "in particular, it is possible to forget how to do good credit risk management. "The body of knowledge about best practice in this area has certainly expanded over the past quarter century, but that doesn't mean it is always practiced. It is all too tempting to ease standards over time."