And in particular, there has been no reduction in the aggregate supply of credit to the real economy. • There are still gaps that need to be addressed. Some obstacles to resolvability remain, and there are gaps in information available to market participants and to public authorities.
They need to ensure that legal frameworks and existing practices find the right balance between the need for confidentiality and the possibility of data sharing. Conclusion Let me conclude. As I hope all of my remarks have illustrated, statistics is a core activity of policy-making, and central banking in particular. Right now, it is also a highly dynamic activity.