In the medium term, the introduction of IFRS 9 and more forward-looking provisioning rules could be conducive to faster recognition of losses. Improvements to bank practices and to data quality 12 / 13  BIS central bankers' speeches  and availability are also going to take time before progress becomes tangible.
Nonbank financing has grown since the financial crisis, and it has been a source of systemic risk, often involving high leverage, maturity and liquidity mismatches, opaque structures, and concentrated holdings of risky assets. Nonbank financing can also lead to lower lending standards, bidding up the price of risky assets and sending an encouraging signal to credit underwriters.