Ewald Nowotny: The future of monetary policy Text of the Joint Vienna Institute Lecture by Prof Dr Ewald Nowotny, Governor of the Central Bank of the Republic of Austria, Vienna, 24 September 2013.
As for controls, there are radical differences from country to country in the relative importance of off-site analysis and on-site inspection and in powers of access and verification at intermediaries. The drafting of the single rulebook will therefore take time. But it is a good thing to specify the stages of the process from the very outset.