13  See Basel Committee on Banking Supervision and the International Organization of Securities Commissions (2013), Margin Requirements for Non-Centrally Cleared Derivatives: Second Consultative Document, report (Basel, Switzerland: Bank for International Settlements, February). 14  The Basel Committee-IOSCO impact study reports all results in terms of euros.
Needless to say, it is essential to accurately gauge the situation on the supply side of the economy in discussing the mechanism of economic recovery and its sustainability, as well as the effects and challenges of monetary policy.