9  Popov, A. and van Horen, N. (2012), “The impact of sovereign debt exposure on bank lending: Evidence from the European debt crisis”, ECB mimeo; Bofondi, M., Carpinelli, L. and Sette, E. (2012), “Credit supply during a sovereign crisis”, Banca d’Italia mimeo. 10  Acharya, V. and Steffen, S. (2013), “The ‘greatest’ carry trade ever?
Understanding Eurozone bank risks”, NBER Working Paper Series, No 19039. BIS central bankers’ speeches  5  The most important action is to ensure that a broad quality review of banks’ assets is carried out, so as to ensure that any hidden balance sheet losses are brought to the surface.