A very wide range of measures has been taken to support financial institutions. These include recapitalisations, deposit guarantee extensions, debt guarantees, extensive provision of credit and liquidity, and acquisition or ring fencing of bad assets. As the global outlook has continued to deteriorate, many countries have also introduced significant wider fiscal measures to support the economy.
BIS Review 18/2003  1  Given the needs of countries with a far different banking and regulatory structure than ours, Basel II contains three alternative approaches, which are described in the Vice Chairman's testimony.