2  BIS Review 45/2009  •  In aggregate, the banks’ capital ratios are very high (18 per cent compared with a statutory minimum of 8 per cent)  •  In aggregate, the level of non-performing loans is low; about 2 per cent, which would be the envy of banking systems in most developing countries and not too far from the level you find in most developed countries.
Overall, euro area economic activity should stabilise and recover at a slow pace. The risks surrounding the economic outlook for the euro area continue to be on the downside. Recent developments in global money and financial market conditions and related uncertainties may have the potential to negatively affect economic conditions.