Moreover, the media attending these conferences have made the public more aware of the impending introduction of the euro banknotes and coins. My colleagues on the Executive Board and myself have been pleased to actively contribute to these conferences. In just over 100 days, the EURO.OUR money, will be in our pockets, and will finally become an everyday reality for all of us.
It builds on microprudential regulations which are concerned with the stability of individual financial institutions. The need for a macroprudential perspective is a lesson learned from the global financial crisis: even though individual financial institutions may seem stable from a microprudential perspective, the financial system may be highly vulnerable to shocks, and it may amplify these shocks.