On average, around 30 banks report data each day out of a pool of 52 MMSR reporting banks, which ensures that there is sufficient underlying data to calculate a reliable rate.7 MMSR data show that even on days with reduced activity on account of major holidays, including the year-end period, volumes remain sufficiently high and concentration sufficiently low to calculate an unbiased rate.8 It will therefore not be necessary for the calculation methodology to be enriched with historical data, or to rely on other market segments or even expert judgement.
Similar is the case with 20th century New York which played a similar role in relation to the American economy. 3. The relationship between financial development and economic growth is a subject of debate. Some economists just do not believe that the finance-growth relationship is important.