As a result, since then, we have had an intense programme  2  BIS central bankers’ speeches  of supervisory engagement with the banks involving multiple detailed reviews of their distressed credit operations, guidance on required improvements and suggested best practices, and a continuing work stream on improving metrics around performance.
While the situation is still short of ideal, this has led to significant improvements from where the system was 15 months ago and so now is the time to see real delivery. It is important that this involves a more realistic mix of solutions for borrowers.