Second, the diversification  2  BIS central bankers’ speeches  of activities of banks from the traditional function of lending and borrowing to activities including, inter alia, custodial services, securities underwriting and corporate advisory. Third, the emergence of complex global financial institutions coupled with the growing interconnectedness of the financial system.
And I wish to add: look into the past only occasionally in order to remind ourselves of what we have lived through, what we have learned and done, while at the same time being constantly focused on future challenges. This is the recipe for success.