Concluding remarks Let me mention that a number of institutional reforms to the supervisory framework within the European Union are currently being finalised. We welcome the new macro-prudential aspects of this framework. They will take concrete form in the creation of the European Systemic Risk Board.
The ECB and the EU national central banks stand ready to provide the risk board with their full support. The Systemic Risk Board will endeavour to provide early warnings and issue recommendations that will help to prevent a renewed build-up of excessive risk in the financial system as a whole.