Several international organisations and large fi nancial institutions have developed fi nancing conditions indices (FCIs). 1 Isolating fi nancing conditions from monetary conditions is especially useful at the current juncture, which is characterised by low monetary policy rates but substantial stress in the fi nancial system. This box reviews briefl y the methodology used to construct such FCIs and looks at some results obtained for the euro area as a whole. As discussed in the article, fi nancing conditions are multifaceted and are therefore characterised by a large set of indicators. With a view.
