As these problems multiplied, money center banks and other large financial institutions, which in many cases had served as sponsors of these financial products, came under increasing pressure to take the assets of the off-balance-sheet vehicles onto their own balance sheets.
The recovery of global trade, the rebuilding of inventories and the positive impact of policy stimulus and liquidity support measures are, at the moment, the main drivers of economic activity. Moreover, money market tensions have eased, government and corporate bond spreads are declining, and stock market volatility has fallen.