As such, notwithstanding the undisputable progress, there is no room for complacency. 2/3  BIS central bankers' speeches  A lasting trajectory of growth and convergence towards our European partners depends on our capacity to generate and maintain high levels of employment and productivity.
This helped to counteract weakened corporate lending and the market-related activities of banks. I now come to the structural factors that contribute to the EU banking sector’s resilience. There I see that efforts made both by authorities and by banks, as well as developments in financial markets, have paid off.