When market prices and interest rates adjust promptly to evidence of such mistakes, their consequences are generally felt mostly by the perpetrators and, thus, rarely cumulate to pose significant problems for the financial system as a whole.
Information that could narrow this range was not readily available, but the Central Bank began to assemble the necessary information through the PCAR process and from NAMA. Gradually the range of uncertainty  BIS central bankers’ speeches  1  narrowed, especially with the last of the haircuts on the lumpy NAMA purchases.