In greeting the new Shareholders, even those that are not physically present at today’s Meeting, on behalf of the Board of Directors and of the Governing Board, we confirm our desire to see the redistribution of the shareholdings continue at a fast pace, in accordance with the limits set by 1/5  BIS central bankers' speeches  law.
The broadening of the shareholder base is among the goals of the reform. We view favourably the participation of social security institutions in the Bank’s capital, of which they now hold 19 per cent. The entry of pension funds, permitted by the reform law, would increase the weight of social security institutions.