  A number of large businesses, particularly in the mining sector, have been able to fund their activities and repay debt from their retained earnings resulting from their strong cash flow (Graph 9).
And, as these banks show, it is possible to succeed – that is encouraging, for us and for the banks. These are challenging times for banks; there is no doubt about that. One thing is clear, though: tomorrow’s business models will look different from today’s. But hasn’t that always been true? 1/2  BIS central bankers' speeches  Thank you for your attention.