The trade balance does have a large share of the current account in many countries, but other components such as the income account often have non-negligible and sometimes significant impact on the overall picture of the current account balance (Chart 3).
Current shortcomings in coordination Current shortcomings in coordination reflect two main weaknesses: diverging interests and knowledge gaps. Diverging interests Diverging interests of banks and CCPs in CCP risk mitigation were underlined in the recent debate on CCP recovery and resolution. This is unsurprising, given the potentially very large unfunded payment obligations that may arise in such situations.