Some of  5  For a detailed description of a model-based methodology of this type, see Box 2 “Analysis of the impact of credit supply factors on economic activity using structural models”, Monthly Bulletin Article, January 2011, European Central Bank. See also ECB Structural Issues Report 2013, “Corporate finance and economic activity in the euro area”, forthcoming.
BIS central bankers’ speeches  3  these measures have a longer-term structural perspective, rather than something that can address the immediate conjunctural weakness of SMEs. Overall, loan schemes, especially guarantees, tend to have a much larger impact in terms of the number of firms affected, while venture capital and similar schemes are much more targeted and restricted to specific groups of firms.