We are also considering the need for additional or revised supervisory guidance regarding various aspects of risk management, including further emphasis on the need for an enterprise-wide perspective when assessing risk. Much of our work is being conducted in close consultation with supervisors in other countries.
[35] The presence of foreign firms had a stabilising impact: these firms created jobs, and there was some “fire sale FD ()I” as foreign investors took advantage of low valuations. The weak performance of the real economy was reflected on banks’ balance sheets, resulting in closures, mergers and takeovers of domestic institutions by foreign banks from Scandinavian countries.