Households and individuals are well served by banks, credit unions and finance companies, in the provision of financing of housing, durable consumption goods and amenities. Adequate availability of this household finance, on affordable terms, significantly enhances the well-being of the population, which has the benefit of the goods over the period when they are repaying their loans.
As you will be aware, full membership of the IMF is restricted to individual nations. Nevertheless, this observer status will allow the ECB to participate in the relevant work and assessments by the Fund of economic policies in the euro area and beyond. The ECB stands ready to participate fully in, and contribute to, international policy discussions.