While both housing output and house prices grew reasonably strongly over the course of the 1990s, these  2  BIS central bankers’ speeches  developments could largely be justified by both the initial low level of the housing stock and property values at the start of that decade.
Transparency around financial stability is achieved both by the central bank’s own reporting and perhaps more importantly by the disclosure requirements it imposes on financial market participants, enabling investors and depositors to assess lending risks.