Before joining the Board, I served as a corporate chief financial officer and risk and audit manager, primarily in the banking industry, and as a member of the Emerging Issues Task Force (EITF) of the Financial Accounting Standards Board (FASB), so I share your interest in improving accounting, auditing, and disclosure. In my comments today, I will address four areas.
However, the ECB’s contribution to achieving and maintaining financial stability does not rely exclusively on its responsibilities for an effective functioning of the ESRB. Obviously, the way the ECB conducts monetary policy also impacts on financial stability.