The second is that, while the corporate bond market was of limited importance in the euro area before 1998, the launch of the euro seemed to act as a catalyst for the development of a market in which corporations could issue debt securities of unprecedented size.
The methods used to construct these estimates would be subject to regulatory requirements and supervisory guidance and review, including a requirement that the risk parameters used for pillar 1 be consistent with risk assessments actually used by the bank for its internal risk management.