Even though they are also the result of a group decision, they may take different forms, depending on the specific circumstances faced by the whole and/or its parts, provided that they are consistent with the key or constituent rules. Derivative rules may also be somewhat flexible, provided that they do not jeopardise compliance over time with the group’s key rules.
Distinguished Guests, the assessment of financial stability, as contained in the October 2021 Financial Stability Report shows that, despite the adverse effects of the COVID-19 pandemic, the domestic financial system continues to be resilient, characterised by strong capital and liquidity buffers, moderate profitability,  generalised  institutional  strength  and  good  business performance across the industry, as well as being adaptive and innovative.