However, it is my candid advice to our credit institutions that before making a decision to participate in a syndicated loan, the usual lending rationale should apply. The commitment of depositors’ funds should depend more on the merit of the project and the credibility of the borrower than anything else. Thank you. 4  BIS Review 63/2007
Compared with the third quarter of 2007 gross domestic product has fallen by almost 9 per cent and industrial production by roughly one fourth. It should surprise no one that banks are encountering difficulties and struggling to support the economy fully. They suffered as a result of the sovereign debt crisis and the ensuing deterioration of funding conditions in international markets.