Meanwhile, banks have been issuing more long-term bonds in what had been relatively favourable conditions in global bond markets. Our liaison with the banks suggests they are planning for further issuance of bonds as they prepare for the roll-off of the first tranche of $ billion of the TFF between April and September this year.
Thirdly, empowering law and gathering intelligence by themselves are not sufficient. Enforcement of the law is a challenge. This is primarily because of the various agencies involved in regulating the non-banking financial activities of entities.