However, we cannot count on there being a 1/5  BIS central bankers' speeches  transitional period right now, since negotiations could break down at any time.
The high leverage combined with their “extreme mismatch” of maturities (funding long-term assets with short-term and, in some cases, foreign currencydenominated liabilities) and reliance on demand deposits, makes them inherently vulnerable – and their economies to severe and recurring credit crunches. 14.