In the ECB’s statistics, a broadly defined aggregate. It includes – loans on book entry, – purchases of debt securities (financing provided through purchases of debt securities) and – shares and other equity issued by non-banks, including securitization papers. – Cf. ECB Monthly Bulletin of February 2008, pp. 98 f. (breakdown), ECB Monthly Bulletin of January 2011, pp. 61 ff. (detailed presentation of supply-side and demand-side determinants; many overviews).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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