Monitoring and supervision were significantly enhanced and the regulatory environment is much improved. The financial assistance programme’s financial stability measures and targets are well on track. This said, the challenge remains huge and there is no room for complacency.
Combining mounting capital needs with deleveraging requirements, while at the same time  6  BIS central bankers’ speeches  preventing a harmful credit contraction in the economy is no easy task – a task that requires a fine balance between “science and art” in policy-making.