In this respect, the January 2015 bank lending survey indicates a further net easing of credit standards in the fourth quarter of 2014, with cross-country disparities decreasing in parallel with an increase in net demand for loans across all loan categories. Banks expect that these dynamics will continue in early 2015.
Going forward, we need to increase the role of the capital markets to enhance the resilience of our economies. For this we need the CMU, which could help the EU to become socially, 2/3  BIS central bankers' speeches  environmentally and economically more sustainable. I think it is a goal worth pursuing. 3/3  BIS central bankers' speeches