Financial markets

The rise of non-bank financial intermediation in real estate finance


Date of publication
14 December 2021


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Post COVID-19 trends, vulnerabilities and policy implications

14/12/2021 - This report reviews key trends in real estate finance since the Global Financial Crisis (GFC) and the more recent COVID-19 pandemic. It offers an integrated assessment of the shift from structured products to leveraged institutions and collective investment vehicles and puts forward policy considerations to help mitigate procyclicality and excessive risk taking in real estate markets by some entities in the non-bank financial sector.


Further reading

Mortgage finance across OECD countries





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