And this takes time. In a way, this should be seen as an investment. As a supervisor, you should invest your time in building trust with other authorities. It will pay off. In practice, the fact that this lesson has not been fully learned, means there are still obstacles to cross-border banking.
In this regard, strengthening risk management within institutions as well as our collective thinking on mitigation of emerging risks will be crucial. The financial sector as a whole has remained resilient, despite the multiplicity of shocks over the past two years.