The credit intermediaries also resorted to large-scale reliance on credit-risk transfer (CRT) instruments, including securitisation structures, which enabled the hiving off of such exposures to a variety of Special Purpose Vehicles through issuance of securitised paper, mortgaged backed securities and structured finance products.
BIS central bankers’ speeches  1  Naturally, we would also be concerned to ensure reliable data management so as to monitor and appropriately adjust our monetary policy operations in tandem with the related structural changes. This symposium will help us to master the role of central banks in harnessing financial innovation so as to prudently maximize financial inclusion.