The risks in our financial system are constantly evolving. Fifteen years ago, everyone was talking about whether households were borrowing too much. Today everyone is talking about whether businesses are borrowing too much.
2/3  BIS - Central bankers' speeches  4 World Meteorological Organization (2022), WMO Atlas of Mortality and Economic  Losses from Weather, Climate, and Water Extremes (1970–2019), WMO-No 1267, 2022 update. 5 Elderson, F. (2023), "The economy and banks need nature to survive", The ECB Blog,  8 June.