Existing home prices (as measured by the repeat-sales index) rose by 7 percent during 2002, and by a third during the past four years. Such a pace cannot reasonably be expected to be maintained. And recently, price increases have clearly slowed. It is, of course, possible for home prices to fall as they did in a couple of quarters in 1990.
In uncertain times, calls for reliability and stability become louder still. Robust crisis and risk management appears to be more important than ever – this applies in particular to CCPs (Central Counterparties), which play a key role in keeping the financial system safe and steady.