This type of news, combined with the various actions taken by central banks, has contributed to a recovery in the prices of risky assets. Overall, supervisory information would be an important input into the ECB’s efforts to ensuring an effective implementation of monetary policy. It has proven to be particularly crucial during the turmoil.
Looking ahead, cooperation between supervisors and bodies responsible for monetary policy implementation could be enhanced through a more frequent transmission of information related to the composition and the funding of the balance sheets of financial institutions (like the change in the so-called funding gaps). 4.