Among all the issues posed by Governor Jalan in his Colombo speech, noteworthy progress is noticeable in respect of standards and codes. Furthermore, the basic parameters on the issue of codes enunciated by him stand vindicated by subsequent events.
1 Current assessment of financial stability  To analyse financial stability issues, the Bundesbank focuses on vulnerabilities in the financial system, risks that could expose these vulnerabilities, and resilience in the financial system with regard to shocks. The Bundesbank’s most recent Financial Stability Review, which was published in November 2022, has the following key messages:[2] First, the macro-financial environment has deteriorated.