On the first topic, the ECB supports the establishment of a single set of global accounting and financial reporting standards. This is vital for the sake of consistency, comparability and thus transparency. It is also important not only for investors and other stakeholders, but also with a view to banking supervision and regulation.
Consistent with the increased share of investor sales, there has been a disproportionate expansion in mortgage credit to residential investors. The dollar value of new mortgage lending for all borrowers grew by 28 percent nationally, in the year to June 2015, reflecting increased house sales as well as higher average prices.