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A bit of banking reform might help revive lending and restore investors' confidence.
One program, known as TALF, was meant to revive lending in the consumer and small-business markets.
As business secretary, he demanded, among other directives, that British banks curb their bonus payments to their highest-paid employees and that they revive lending to small businesses.
Supporters of the plan said it would help revive lending by relieving banks of the need to haggle with politically powerful debtors.
In Europe, "banks exceed minimum capital levels, but would benefit from additional tangible capital to better absorb impending losses and revive lending," the I.M.F.
Governments forced to step in to save the financial system would prefer to close or merge weak banks in order to revive lending as quickly as possible.
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These have had a limited effect in reviving lending in Western economies.
Several of the participants argued that the bank bailouts hadn't revived lending in their industry, so the government needed to intervene.
That shows the ECB's efforts to stimulate borrowing through keeping interst rates at record lows aren't reviving lending in the euro area.
But while the wall of money has bought time for banks and governments to deal with their formidable problems, the E.C.B. does not appear to have yet achieved its goal of reviving lending to businesses and consumers.
FRANKFURT — In a closely watched display of its firepower, the European Central Bank on Wednesday allocated to euro zone banks another huge round of the cheap, three-year loans that have helped avert a banking crisis but have not yet revived lending to business and households.
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