It has been useful for central bank governors and finance ministers to meet at international fora to have a shared understanding on some of the issues that are common to us, such as a common minimum programme on regulation, the management and the governance of Bretton Woods institutions.
Indeed, discussions about the long-term strategy for the stress tests in Europe are underway at both the ECB/SSM and EBA levels. 4 Proposed changes aim to improve the realism of stress test outcomes while retaining their reliability and credibility. I do not want to pre-empt those discussions.