In this context, the industry acknowledged the importance of the initiatives taken by central banks to address problems in international flows of liquidity and the cross-border use of collateral.
In addition to the aforementioned issues, market developments that also affected liquidity risk management of cross-border banks consisted of the shortening time-horizon for payment obligations, the increased reliance on wholesale and potentially more volatile funding sources as well as the growing need for high-quality collateral. Let me also mention initiatives by the industry in the field of liquidity risk.