On strong asset prices – We do not yet see asset bubbles forming. But developments bear watching. Our assessments show that demand for real property assets continues to be based on fundamentals, i.e., there is real demand from OFWs, expatriates, and the BPO sector.
Consequences of an imbalance between supervisory and regulatory harmonisation The regulatory landscape in Europe is still fragmented. And from my point of view, many variations in national legislation can no longer be justified now that we have European banking supervision. Imagine being a referee in a football match; your main task is to administer the rules of the game.