Second, banks may try to reduce the maturity of the loans they grant to corporates, small and medium-sized enterprises, and households in order to shift the roll-over and liquidity risk to the final users of financial services. But the new regulation is designed to make this strategy unattractive for banks, as only a part of these loans needs to be financed by stable funding.
It has not always been easy to draw the appropriate line between preserving the diversity of national traditions, cultures and institutional arrangements, which illustrate the richness of Europe, and being European in the definition of the policy missions and pursuing the public interest. Tommaso was a central banker by profession, but he was also an advocate of a united Europe by deep personal conviction.