So where is your voice, your passion, your purpose in the vibrant debate that rages as we work to build our common future? We all have the ability to exercise both reason and choice. The future will be what you make it. I wish you all well in your personal and professional lives. 6  BIS central bankers’ speeches
And given that any method of dollar funding – direct or synthetic – has become more expensive relative to euro funding, it then follows that an adverse shock to a global bank’s perceived creditworthiness leads to a decline in its dollar-denominated lending relative to its euro-denominated lending.