I merely want to emphasize the gap that currently exists, which in turn represents the opportunity that the financial sector has to design and deliver appropriate products and services to a very large number of potential customers. BIS central bankers’ speeches  1  Slide 1 provides a set of summary statistics relating to the penetration of various categories of financial products.
To date, the prudential policy framework for investment funds relies, to a large extent, on ex post liquidity management tools in the hands of asset managers (redemption fees or the suspension of redemptions). But these tools are of limited use to prevent liquidity stress at the system level.