Meanwhile work is being done, in international institutions and fora – such the IMF and the Financial Stability Forum – to analyze the causes of the financial market turmoil and propose policy directions to strengthen financial resilience.
1  The growth of bank loans to the domestic private sector has remained robust in recent months and, importantly, this has not been driven by an involuntary increase in banks’ balance sheets, according to the ECB staff’s preliminary analysis. BIS Review 45/2008  3  In sum, the present financial market turmoil contains lessons for both market participants and policy makers.