However, it should be noted that accepting foreign currency collateral also implies additional legal and financial risks in the conduct of monetary policy operations. Hence, this is an area where further work is needed. 6. Final remarks  Let me finally offer you some concluding remarks. One year after its start, the financial market turmoil has not subsided.
This story is not new. At the turn of the millennium, there was a strong admiration for what was referred to as the new economy in Germany. • New economy was a term used to describe internet start-ups which often relied on little physical capital to generate, at times, staggering market valuations. • This was in contrast to the old economy.