What is financial stability analysis?

Main milestones to current EU supervisory architecture The establishment of the ESRB and the ESFS.

Main milestones to current EU supervisory architecture.

Residential property and Commercial property.

ECB uses of house price statistics: • Macroeconomic analysis and forecasting

• Exposure of the banking sector to housing market movements via mortgage loans

• Housing wealth + its effect on consumption

• Over- or under-valuations → “house price bubbles”?

Financial Stability + Property Prices

Residential property prices

Commercial property prices

Importance of Commercial Property Prices. Role in the macro economy

Residential Real Estate and Commercial Real Estate – COVID impact