It is important that as we develop, with new innovations, there 2  BIS central bankers’ speeches  is also the responsibility to ensure that this growth is orderly and within a regulatory framework that will nurture and assist growth. Finally I would like to say something on data collection, our other major initial target.
In fact, we have already seen some positive effects of our measures. Financial conditions in money and bond markets throughout the euro area have eased further. Accordingly, lending rates to households and firms have come down considerably. Loan dynamics have continued to recover, with the growth in credit to the private sector turning positive in December for the first time since mid-2012.