Clearly, I will be able neither to cover all the interesting topics nor to discuss in depth each of those subjects that I do include. But I believe it is useful to step back occasionally and try to take a broad view of our detailed and complex financial landscape.
In turn, and importantly, this would reduce pressures on monetary policy to do so. It will also have incentives to conduct supervisory policies in a way that would reduce the likelihood of crises and therefore of lender-of-last-resort interventions. This would also diminish the possibility of generating adverse incentives for banks, i.e. moral hazard involved with emergency assistance. 7  J.