BIS central bankers’ speeches  11  The slower growth of wages over the past couple of years has been a helpful part of the process of adjusting to the downturn in commodity prices and mining investment.
Both banks and independent securities firms engaging in merchant banking have tended to allocate substantial internal capital to support their private equity investment activity - between 50 and 100% - and to recognize unrealized capital gains only on traded equities or when some triggering event supported the revaluation of non-traded shares and then only subject to a discount.