With the rapid pace of financial innovation, a risky new asset class can grow from a minor issue to a significant threat faster than government agencies have traditionally been able to revise reporting requirements. For example, collateralized debt obligations based on asset-backed securities grew from a specialized niche product to the largest source of funding for asset-backed securities in just a few years.
According to the IMF publication titled Capital flows: review of experience with the institutional view, published in December 2016, the average number of easing measures introduced between 2013 and 2016 amounted to 851, with almost 60% representing easing by emerging market economies. China, Colombia, India, Indonesia, Malaysia, South Africa and Thailand introduced about 127 easing measures.