In particular, last fall we issued a joint rule with the FDIC that requires each of these firms to produce a credible plan – known as a living will – for an orderly resolution in the event of its failure.
Especially during the financial crisis the often-criticised and sometimes ridiculed monetary and credit analysis has proved valuable in monetary policy analysis. Nevertheless, the analysis of monetary and credit aggregates must be developed further in order to identify undesirable developments on financial markets. Eurosystem staff are currently working towards this goal.