We had, and to some extent still have, a long tail of smaller banks of which too many were weak, although we also have many well-run smaller banks. May be surprisingly for some, the collapse of the housing bubble has not caused direct problems for financial stability.
I would invite market participants to keep our communication lines open to enable us to adjust our frameworks so that there is full clarity and no gaps in our regulatory perimeter. This Baltic AML Forum is therefore a great opportunity for us to hear each other out and, through common understanding, make progress.