I would like to thank him for this invaluable support and trust that we will both witness the further elaboration and intensified usage of this crucial tool for European economic, financial and monetary policymaking. References Adrian, T. and H.S. Shin (2008a), “Liquidity and leverage”, Federal Reserve bank of New York Staff Report No. 328. Adrian, T. and H.S.
Shin (2008b), “Financial intermediaries, financial stability and monetary policy", Proceedings of the Federal Reserve Bank of Kansas City Symposium at Jackson Hole, 2008. Be Duc, L. and G. Le Breton (2009), “Flow-of-Funds analysis at the ECB – framework and applications, Occasional Paper No. 105, European Central Bank. Brender, A. and F. Pisani (2009), Globalised finance and its collapse, Dexia Asset Management, Belgium.