But in order to minimise such overshooting, looking ahead, one important issue is to identify mechanisms that support efficient equity valuation. Consistent and open reporting of corporate accounts is one central issue in this respect. On the positive side, the huge loss in equity wealth has not triggered any major default among financial intermediaries.
2  BIS Review 119/2009  interagency process, which was led by the Federal Reserve, incorporated forward-looking, cross-firm, aggregate analyses of 19 of the largest bank holding companies, which together control a majority of the assets and loans within the U.S. banking system.