The lending associated with these facilities is currently about $ billion, corresponding to roughly one-eighth of the assets on the Fed's balance sheet. The sizes of these programs, notably the TALF, are expected to grow in the months ahead. The commercial paper market is a key source of the short-term credit that American businesses use to meet payrolls and finance inventories.
There is a perception that the G20 is seeking to implement its reform agenda in a nondiscriminatory manner, with all jurisdictions – large or small – being asked to adopt broad, common standards. There is also the perception that failure to implement this agenda in the manner and at the speed determined by the standard-setters, could lead to marginalization.