Because of the similarities in the resolution regime, and the experience that bank resolution has gained, we decided to combine the two resolution tasks into one directorate. The combination of bank and insurance expertise also benefits the resolution planning for bank‐assurance institutions. This is because it brings together different perspectives at an early stage.
3  Specifically, the Bank lowered its policy rate from around 0.5 percent to around 0.3 percent in October 2008 and further to around 0.1 percent in December 2008. 6  BIS central bankers’ speeches  contain funding costs, which makes it easier for firms and households to increase their economic activities.