Anti-clockwise doom loop – sovereigns infect banks  If it is the anti-clockwise doom loop we are looking to tackle, there are essentially two ways in which we can shield banks against distressed government finances. First, we can make government budgets inherently more stable, thereby reducing the likelihood of them getting into trouble.
In view of the fact that the level of guaranteed fee, interchange rate, to be retained by the card issuer in international card systems is disproportional to the level of fees in the EU member countries and that the gap will only widen further  BIS Review 63/2007  1  after a new set of rates is becomes applicable from 1 January 2008, the NBS has, following into the footsteps of the European Central Bank, decided to actively engage in improving efficiency of card payments and the resulting relationship between banks and trades people.