One area of growth since the crisis is non-bank financial intermediation, otherwise referred to as market based finance. The Eurosystem’s Household Finance and Consumption Survey (HFCS) provides important information on mismatches between the assets and liabilities of individual households, in terms of their size, volatility, interest rate sensitivity and liquidity.
This has increased visibility of our survey output and has improved considerably the timeliness in dissemination of survey results. I am sure availability of these surveys now in public domain will spur research in these areas. Understanding asset price developments has gained increasing importance, especially after the global financial crisis.