Group supervision is a major task and requires high quality dedicated supervisors who understand the business models of the firms they supervise, are able to periodically test governance and control frameworks, have a good understanding of complex intercompany transactions, can oversee the assessment of group solvency requirements, closely monitor the performance of internal models and ensure effective coordination and information flow between all relevant supervisors with an interest in the group.
Inflation expectations for the euro area over the medium to long term continue to be firmly anchored in line with our aim of maintaining inflation rates below, but close to, 2%. Looking ahead, we will monitor developments very closely and will consider all instruments available to us.