Alan Greenspan: The importance of education in today’s economy Remarks by Mr Alan Greenspan, Chairman of the Board of Governors of the US Federal Reserve System, at the Community Affairs Research Conference of the Federal Reserve System, Washington, DC, 6 April 2001.
In this context, the banking system will continue to be an important source of financing and there would be strong demand for bank credit. Although bank credit has  BIS Review 18/2008  19  witnessed sharp growth since 2003-04 onwards, it needs to be recognised that the creditGDP ratio still remains relatively low.