The Economist magazine wrote in 1999: “... the biggest economic problem for Europe today is how to revive the German economy”. Nowadays, Germany is called the economic powerhouse of Europe. This is not least the result of economic reforms that were implemented between 2003 and 2007.
In addition, the ANPR seeks to provide more certainty and consistency, tailor expectations to local conditions and bank business models, and minimize burden. Finally, we intend for the feedback on the ANPR to provide a foundation for the banking agencies to converge on a consistent regulatory approach that has broad support among stakeholders.