The conference provided a unique opportunity for researchers, community bankers, and bank supervisors to come together to hear some of the latest research on topics related to community banking and discuss the practical implications of this research. The 2013 conference was so successful that we decided to make it an annual event.
Had this been allowed to continue, these funding restrictions would probably have hampered growth in credit to households and non-financial corporations. This, combined with deleveraging needs, could have resulted in a “credit crunch” in several parts of the euro area, with negative consequences for the economy and price stability in the euro area.