In this regard, various programs continue to be improved to accelerate the increased use of the Local Currency Settlement (LCS) framework to facilitate trade and investment with partner countries by strengthening synergy and coordination with other relevant authorities.
Issuance of securitized products remains well below pre-crisis levels for most asset classes, with few signs of securitizations that involve maturity or liquidity transformation and limited issuance of complex securities whose opaque structures can contain significant leverage. And 2/7  BIS central bankers' speeches  the data that are available suggest that leverage at nonbank financial firms has been stable.