The deputy governor of the Bank of Finland says the current macro-prudential tools available to Finnish authorities are insufficient to deal with issues bubbling up in the housing market.
“The range of tools has to be sufficiently robust that it can restrain borrowing wherever necessary, regardless of the source or purpose of financing,” Marja Nykänen said in a statement on December 5.
Non-bank lending is likely to continue to grow in the future, Nykänen said. She argued the toolkit must be
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- Book notes: Macroprudential policy and practice, edited by Paul Mizen, Margarita Rubio and Philip Turner