It has done so, in part, because the debt has become more concentrated in highly leveraged households, especially those whose ability to service their debt may be more vulnerable to an economic downturn. Our assessment, therefore, of this vulnerability depends not only on the magnitude of the debt but also on its distribution.
Beyond pricing, we are also of the belief that the consumer would be better protected if he is informed of the different investment options available to him as well the macro and microeconomic factors that are likely to impact on the value of his chosen investments 2. None of the above would be possible, however, if specific regulatory barriers are not addressed.