I believe further reflection is necessary at European level, also in light of the experience of the American Federal Deposit Insurance Corporation (FIDC), on the institutions and measures designed to make the exit of smaller banks from the market less traumatic and as economical as possible.
In the third quarter of 2021, prices for houses and flats in the euro area increased by 9% year-on-year, an unprecedented rate of increase (Slide 4, left-hand chart). If owner-occupied housing were included in the HICP, headline inflation in the third quarter of 2021 would have been 0.3 percentage points higher.