But, likewise, no commercial bank would like to see a competitor occupying the position of the central bank. Neutrality is a critical feature  BIS Review 81/2001  5  that only central banks can provide to the securities industry, where every player competes with every one else.
Owing to the maintained favourable financing conditions and at the same time preserved quality of bank assets, lending remained an important factor ensuring growth in private investment and consumption. The volume of lending increased during Q3, notably to the corporate sector, which resulted in accelerated growth in overall lending to the non-monetary sector to 6.6% in September, up from 6.3% in June.