Although the number of enforced sales can be expected to rise further in the near future, the current outlook for household finances does not point to an increase to the level seen in the early 1990s. Combined with falling stock indices, lower housing prices have led to a reversal of the prolonged upward trend in household wealth, and a fall was seen last year.
[SLIDE 27] Macroprudential policy is important in a time of… A necessary precondition for successful macroprudential policies – both at a national level and for the Banking Union as a whole – is the availability of sufficient macroprudential toolkits.