The aim is to promote greater  2  BIS central bankers’ speeches  transparency in these historically opaque instruments in order to foster renewed confidence in securitisation markets.
Since household borrowing exceeds household deposits, a cut in interest rates puts more money in the aggregate household budget. However, there are large differences across households. When interest rates go down borrowers pay less interest and so are better off. But savers receive less interest income and so are worse off. How these two different groups respond determines how powerful this cash-flow channel is.