*  *  *  Each year in late August, for the last 23 years, the Federal Reserve Bank of Kansas City has hosted a conference where central bankers from around the world tackle issues relevant to the setting and implementation of monetary policy. They are joined by academics, former Federal Reserve governors, and private-sector economists.
In the coming weeks the European Commission and the Single Supervisory Mechanism will finalize their proposals for writing down non-performing loans over time (calendar provisioning). In its proposal the Commission suggests introducing minimum, or Pillar 1, requirements that all EU banks will have to meet.