These actions address the regulatory arbitrage incentives that led to distortions in the market, and at the same time will drive changes in transaction structures and incentives going forward. Accounting standards are being strengthened to ensure disclosure of off balance sheet entities and tighten derecognition requirements. 7.
In fact, countries that were moderately in recession – Australia and Norway – have begun to tighten monetary policy. France and Germany have realised positive economic growth for almost two successive quarters.