A focus on liabilities will help students understand why, for example, the Federal Reserve plans on setting capital standards differently for traditional insurance companies (that is, not the pre-crisis AIG) than for bank holding companies and their affiliates. An emphasis on runnable funding will help them see why systemic concerns extend beyond SIFIs as such.
•  I would like to thank President Belka and the conference team at the Polish central bank for their tireless efforts in making this event happen and for their great hospitality.