In bricks and mortar and retirement provisions. This reduces people's flexibility, making them less resilient. These are the kind of systemic aspects we must consider as central bank and supervisor. We conduct economic research so we can provide the government with independent economic advice.
For example, many lenders have been reluctant to provide credit to counterparties, especially leveraged investors, and have increased the amount of collateral they require to back short-term security financing agreements. Credit availability has also been restricted because some large financial institutions, including some large commercial and investment banks, have reported substantial losses and asset write-downs, which reduced their available capital.