Its main findings can be summarised in the following three points: First, the structural changes in the financial markets have given rise to a significant set of challenges in assessing liquidity risk.
In this respect, the establishment of the “originate and distribute” model as well as the growing use of securitisation and market –based funding  BIS Review 43/2008  15  have increased the funding capacity of institutions at the price of increasing their vulnerability to adverse market conditions.