Draghi: The ECB’s money has got to the right places. In Germany alone, 460 banks participated in the action, many more than usual. So it wasn’t just the acutely suffering banks, but also many others, many of them small. That particularly helps the small and medium-sized companies that account for 70% of all jobs in Europe. BILD: This all sounds very optimistic.
I want to talk today about an important initiative at the Reserve Bank– to undertake a stocktake of our regulatory framework for banks and non-bank deposit takers. There has been a considerable amount of financial sector regulation in recent years, both globally and locally in New Zealand.