7  Regulation (EC) No 958/2007 of the ECB of 27 July 2007 concerning statistics on the assets and liabilities of investment funds (ECB/2007/8) OJ L 211, 14.8.2007, p. 8.
Market discipline, in turn, requires not only disclosure, but also the expectation that bank counterparties face a risk of loss. Government guarantees in the name of stability may actually pose a greater risk of bank difficulties by reducing market discipline, or, alternatively, could require more intrusive supervision, reducing the innovative market dynamics I mentioned earlier.