The importance of having an accurate estimate of the “normal values” of the fundamental economic variables of an economy – potential growth rate, natural rate of unemployment and threshold inflation – in order to accurately calibrate policy got reinforced  6  BIS central bankers’ speeches  recently in the context of the US Fed’s announcement in December 2012 that it will maintain its current easy monetary policy stance “as long as the unemployment rate remained above 6.5 per cent” provided inflation is only slightly above its target and long-term inflation expectations remain anchored.
While trust companies are at a disadvantage to banks in terms of capabilities of monitoring and managing trust loans, operations and experiences, hardly playing the role in  BIS Review 46/2004  3  effectively diversifying and managing risks.