| In the case of intermediated investments, the monitoring is realised through reports provided by the intermediaries. |
| Also, as increasing financial investments are intermediated outside of the banking system, monetary authorities are losing some control over credit growth and the effectiveness of monetary policies is thereby limited. |
| The ECB further notes that the introduction of a similar standard format for securities accounts comparable with the regime for IBAN could enhance the conflicts of law regime for intermediated securities. |
| However, no meeting is expected to be convened before the Committee of governmental experts on intermediated securities will have finalised its work. |
| The DPO eliminated the agency problem associated with offerings intermediated by investment banks. |
| The national law prescribes that an attachment order aiming at impounding intermediated securities of an account holder has to be addressed to the account operator. |
