You see, digital technologies can make individual banks more stable, through better analyses and data management or the use of advanced analytics in risk management. Thus, AI and ML can create added stability for the financial system as a whole. We, as supervisors, therefore wish to act as enablers of the digital transformation.
Compared with other parts of the world, inflation rates are relatively low, budgets increasingly consolidated and structural reforms under way. Financial markets within the euro area are in full process of dynamic restructuring - we can already observe a highly liquid and fully integrated money market and deeper and more efficient capital markets.