There are a several reasons why the Bank, and the SCAB, want to see more integrated EURO financial markets. These include better and more efficient allocation of risk and capital, the smooth operation of the monetary policy transmission mechanism and of payment systems, and greater overall financial stability.
Let me also take this opportunity to thank our speakers in advance for your time and contribution in this exercise, which is part of our effect to look at a broad range of economic and non-economic issues that provide useful insights for policymaking.