We also think that it is appropriate to propose the establishment of a code of conduct for HFT in order to preclude the use of potentially unfair practices. Enhancing the transparency of ETFs would also help improve the markets’ ability to handle the risks. Last but not least, I wish to turn to our recommendations for policymakers.
2/4  BIS - Central bankers' speeches  Net interest income in euro grew by € billion on the year. This was due to higher interest income from securities portfolios held for monetary policy purposes – particularly from inflation-linked Federal bonds, relief provided by the suspension of the two-tier remuneration system and the expiry of the special interest rate period for TLTRO III operations.