If financial institutions readily and steadily approach new ways of intermediating credit, the real economy might recover sooner and with more vigor than expected. If not, if private market participants prove unable or unwilling to establish new business models, then the effects of the current financial market turmoil may be a significant drag on economic growth long after stability is ostensibly achieved.
2  BIS Review 93/2006  I am aware that some of South Africa’s important corporates are here to participate in this conference. We look forward with keen interest to your contributions to the growth of this sector of the market. I wish you well during your deliberations. Thank you for your attention. BIS Review 93/2006  3