Let me indicatively mention some of these initiatives: the development of a secondary market for loans (performing or non-performing); the reform of the framework for out-of-court debt settlements; the improvement of infrastructure and expertise of the judicial framework; 2/7  BIS central bankers' speeches  the legislative reform to ensure that existing shareholders participate in the reorganisation of companies, or otherwise immediately withdraw.
We supervisors must avoid group think and national bias. We should take into account as many views as possible when assessing risks and taking decisions. Looking ahead, I would encourage even more exchanges between the national supervisors and the ECB. This could mean more secondments of staff to the ECB or more cross-border on-site inspections with ECB and national authorities’ staff.