2  BIS Review 1/2005  Efforts to revitalize regional businesses are also gradually bearing fruit, and as the economic recovery takes hold, improvements in companies’ financial conditions and a more favorable assessment of these by market participants have become evident.
Moreover, the agreement on Croatia’s participation in ERM II was based on several policy commitments which I discussed with you two years ago. [9] Although the anti-money laundering (AML) commitments have been fulfilled formally, there are still several shortcomings in this respect which must be addressed, as identified in the recent MONEYVAL report. [10] This is also key from a prudential perspective.