Meanwhile, competition for new energy sector assets is fierce.
The scale of trust assets still pales in comparison with total banking sector assets of more than 100 trillion renminbi as of the end of June.
The €60bn a month figure includes the purchases of private sector assets that the ECB had already begun to try to unlock credit markets.
Together, foreign lenders account for more than 90percentt of Romanian banking sector assets, according to Barbara Nestor, an economist with Commerzbank in London.
The US has not purchased private sector assets, although it has purchased large quantities of mortgage-backed securities and it will buy more as part of Operation Twist.
For example, financial sector assets in relation to GDP are higher in the UK than in most other countries, including the US, Japan, France, Germany, Australia, Canada, Italy and Spain.
To boost lending to businesses, the MPC must agree to purchase private sector assets, and the government must initiate moves towards the creation of a business bank.
"If we don't look at ways to get better value from existing public sector assets it will be a lost opportunity," he says.
The €60bn-a-month total for the QE programme includes the purchase of private sector assets that the ECB had already begun, to try to unlock credit markets.
The Bank will be authorised by the Treasury to purchase high quality private sector assets, including paper issued under the CGS, corporate bonds, commercial paper, syndicated loans and a limited range of asset backed securities created in viable securitisation structures.
