However, the trend was reversed late in the month, and the yen is recently being traded in the range of 106-108 yen. With regard to corporate finance, private banks have basically retained their cautious lending attitude. However, constraint that had been caused by severe fund-raising conditions and insufficient capital base has eased considerably.
Looking ahead we will have a stronger set of rules  2  BIS central bankers’ speeches  for capital and liquidity. We will also have a new toolbox for the resolution of financial institutions. And we will have stronger national deposit guarantee schemes. Banking Union however is not a panacea for eliminating financial market fragmentation and fully stabilising EMU.