It will not only lead to a more effective and resilient banking system but also to better private sector risk-sharing across countries. The impact on financial markets has been impressive. But let me be clear: the work is not yet done.
Potential implications that a protracted period of monetary accommodation may have on financial stability Finally questions have been raised on the potential implications that a protracted period of monetary accommodation may have on financial stability. First of all, not acting forcefully would have had very serious financial stability implications.