•  This group is drawing on IOSCO’s work on unregulated markets and products, focused on securitised products and credit derivatives markets – a consultative document in this area will be put out in the next days. •  The IMF and the BIS are advancing their work on methodologies to quantify systemic risk and identify systemically relevant institutions and activities.
These measures include allowing banks to borrow as much liquidity from the ECB as they need; expanding the range of collateral they can use to access that liquidity; intervening in bond markets that were malfunctioning, like the sovereign bond market or the covered bond market; and launching two three-year Long-Term Refinancing Operations (LTROs), which injected more than 1 trillion euro into the euro area banking system.