In the short-term, this may have a pro-cyclical effect. However, a fast and targeted rebooting of the banking system could have two positive effects going forward. The first effect is cyclical.
Regardless of the fact that the NBS is in charge of supervision of the banking sector, it is well known that we are very much in favour of the development of the capital market as such development can, not only contribute to the strengthening of the overall financial sector but also to making the banking sector more profitable, i.e. more efficient!