At the same time, the crisis has shown how powerful market-driven solutions are. Consider how quickly enterprises switched over to mask production, for example. This certainly does not mean that economic policymakers can sit back and relax. Our prosperity essentially depends on innovative power, open markets and effective competition. It is therefore all the more important to counter protectionist tendencies rigorously.
Own capital as a cushion for losses is therefore a modern prudential requirement. Third statement: BIS Review 70/1998  -2-  The banking world will be changing even faster - but neither the size of a financial institution by itself nor applying modern strategies are guarantees of quality.