6  BIS Review 106/2009  Now, there are moves to explicitly indicate which agency/agencies will be responsible for financial stability as also to specify a protocol for addressing threats to financial stability, much like the ones we have developed for managing natural disasters. But this requires, in the first place, for financial stability to be precisely defined.
Securitisation, especially for small and medium-sized enterprises, can build a bridge between credit-driven bank financing and capital markets. In my view, securitisation could be a very important instrument for tackling the financing challenges associated with the green and digital transformations of European economies. Accordingly, the Bundesbank hosted an event about the role of securitisation for sustainable finance in Düsseldorf in the middle of October.