BIS Review 42/2010  1  Banking and financial conditions While conditions in some financial markets have improved markedly in recent months, conditions in the banking sector continue to be weak. The largest banks were modestly profitable during 2009, but community banks as a group reported a loss of $ billion and showed a negative return on assets of 0.17 percent.
I would add, if I may, that intellectually this has been an exciting period, as we were often driven to think outside of our usual toolbox. Indeed, sometimes we were forced to think the unthinkable, as we realized that in crisis situations the accepted wisdom is not always wise.