Nominal outstandings growth is translated into real terms after subtracting the growth rate of the price deflator for nonfinancial business-sector output. Disclaimer for S&P data: S&P and its third-party information providers expressly disclaim the accuracy and completeness of the information provided to the Board, as well as any errors or omissions arising from the use of such information.
Uncertainty has increased because the financial institutions have only partially declared their losses and because it has been difficult to state the value of assets no longer traded. A third group of proposals addresses the role of rating agencies in financial intermediation.