Mr Martin explained why the Board of Trustees decided to honour the ECB for a number of its achievements. Indeed, given the inevitable uncertainty characterising our economies and the risks that can affect their performance, central banks may be seen as institutions whose tasks involve the prevention and management of risks that can impact on the achievement of their policy objectives.
Preventing and managing such risks involves monitoring, analysis, assessments, decisions and actions that engage the entire institution: its decision-making bodies, its management and its staff. Risk management has undergone fundamental changes over the past two decades.