BIS Review 42/2005  1  Industrial policies will definitely be oriented to energy-efficiency. Commercial banks should keep this in mind while lending in order to avoid future losses. In industrial analysis commercial banks can also consider outside sources, such as credit policy guidance of the central bank and research of consulting firms. II.
As local debt markets are at an infancy stage in many countries in the region, this would make it difficult for banks to hold highquality liquid debt instruments as “preemptive” liquidity buffers against early signs of stress as required by Basel 3.