* * *  1 Introduction Mr Kalechits, Mr Samecki, Ms Kuniyoshi, Ms Wiktorin, your excellencies, distinguished guests, ladies and gentleman, First of all, I would like to thank you for the warm welcome and your kind introductory remarks.
On average, around 30 banks report data each day out of a pool of 52 MMSR reporting banks, which ensures that there is sufficient underlying data to calculate a reliable rate.7 MMSR data show that even on days with reduced activity on account of major holidays, including the year-end period, volumes remain sufficiently high and concentration sufficiently low to calculate an unbiased rate.8 It will therefore not be necessary for the calculation methodology to be enriched with historical data, or to rely on other market segments or even expert judgement.