It remains to be seen whether the soon-toturn-operational European Systemic Risk Board (ESRB) can serve as an effective coordination vehicle for CESEE macroprudential policies. Finally, allow me to make a precautionary warning against too much reliance on macroprudential policies in facilitating financial stability. In my opinion, although they are necessary, they certainly are not sufficient in themselves for this purpose.
Particularly in the financial industries with global networks, once such an attack occurs in one location, its negative influence may spread across the board. The Bangladesh Bank heist in the beginning of this year was the case that abovementioned risk was materialized. For the sound development of FinTech, information security is a key.