At the same time, credit default swap (CDS) indices in Europe and the US have declined since mid-March (as shown in the left chart of slide 4), corporate bond spreads have narrowed across-the-board, and the availability of bank credit to households and nonfinancial corporations has not been significantly affected by the financial market turbulence.
The issuance aims to establish a common framework across the trust industry on benchmark selection and ensure that clients are provided with the necessary information for them to adequately assess fund performance.​ As we actively move towards a more digital society, I call on the FMAP and its memberinstitutions to embark on and accelerate your own digital transformation journeys.​ Digitalization can reduce distribution costs and make financial transactions faster and more convenient.