The development of local currency-denominated bond markets has also enabled the region to reduce double mismatches (maturity and currency mismatches between assets and liabilities), thereby improving the balance sheets of the bond issuers – i.e., governments, firms, and financial institutions. The development of bond markets has also strengthened linkages with global financial and capital markets.
Guy Quaden: Installation of the Financial Stability Committee Introductory talk by Mr Guy Quaden, Governor of the National Bank of Belgium and Chairman of the Financial Stability Committee, at the installation of the Financial Stability Committee, Brussels, 30 July 2003.