So, if the trends discussed are the outcome of deliberate choices by multinational banks, what is the implication for policy?

FORBES: Too Big To Fail Or Too Small To Maintain Stability?

What is the policy implication of this claim?

FORBES: Grantham Inst. Report Shows That We Should Abandon Wind Power Subsidies

Perhaps, but the FT's Chris Giles did confirm one clear implication of last week's policy change.

BBC: The Bank abandons a lot of hope

The implication of my view of the way monetary policy works for the assets of the Fed is that the current level of total assets is a result of past policy and that continued slow growth is needed to support the real economy going forward.

FORBES: Which Is More Important For Monetary Policy: The Growth Of The Fed's Balance Sheet Or Its Level?