Another challenge is the lack of appetite for new and innovative products that are available in the financial markets. The market has not displayed any appetite for instruments with varied structure. A similar response pattern has been observed in respect of products, such as, interest rate futures (IRFs) and repo in corporate bonds.
To maintain household debt soundness, therefore, the absolutely crucial thing is to avoid a housing boom and bust cycle. To ensure this, policy initiatives are naturally required from the micro angle targeting the supply and demand of housing and the tax regime. An even more important task, however, is to carry out macro economic policies that keep the overall economy on a stable course.