It probably will still pay dividends, though, to keep our antennae tuned for the nature of the promises made by the various players, the extent of leverage involved and the frequency with which we hear the cry that “this time is different”. Thank you for your attention. I wish you well in your deliberations. BIS central bankers’ speeches  7
The resulting credit and counterparty risk has contributed to a rise in funding costs, preventing some banks from on-lending to the private sector.