The  2  BIS central bankers’ speeches  concentration of excessive risks in banks’ balance sheets, the emergence of hypertrophic banking systems and the financial crisis as a whole were aided and abetted, amongst other things, by differences between individual countries regarding the strictness of their prudential supervisory regimes.
Yes, but as I said, not right away – short-term rates will remain very low, close to zero, for a very long time, and at least until the middle of 2019. Yesterday the Banque de France revised its 2018 growth forecast downwards, from 1.9% to 1.8%. But it still says growth is robust. Is that your assessment too, Mr Cœuré? Yes, that’s our assessment.