BIS central bankers’ speeches  1  Likewise, the European market for venture capital is 20% the size of the US market, and for securitisation the percentage is even lower. 2 In the end, it comes down to the uncontested argument of diversification. Increasing the share of capital markets will improve and broaden access to funding particularly for small and medium-sized enterprises.
Above all, we need •  to find a solution for the SIFI problem;  •  to ensure that all financial institutions can be resolved without dragging down the whole system; and  •  to identify the shadow banking system and expose it to supervision.