Let me provide you with three examples of different sessions where you have a great opportunity to think about how the macroprudential framework could be further developed. First, the systemic risks of climate change are becoming increasingly prominent. International regulators and supervisors are working towards better data and enhanced disclosures.
You will discuss a paper on how technical developments will allow a more precise monitoring of financial risks of climate change. For example, how we could better analyze the degree of concentration in the portfolios of financial institutions and investors and how it affects financial stability. Second, another important trend is that financial institutions are crucially vulnerable to cyber risks.