It has declined in the past couple of years, as resource companies have been using the boost to their cash flows from higher commodity prices and rising output to pay down debt. 7 / 17  BIS central bankers' speeches  Some parts of the business sector haven’t seen the supply of external funding improve over recent years.
And while in some areas, industry practices are clearly converging, in other areas a wide diversity of market practices still prevails. This has forced supervisors to devise a regulatory approach that accommodates innovation while providing an adequate degree of consistency.