Yukitoshi Funo: Economic activity, prices, and monetary policy in Japan Speech by Mr Yukitoshi Funo, Member of the Policy Board of the Bank of Japan, at a meeting with business leaders, Hiroshima, 3 July 2019. * * *  I. Recent Economic and Price Developments A.
Second, the implementation of the SSM should reduce concerns about hidden losses on banks’ balance sheets. In accordance with the SSM regulation, the ECB will conduct a “comprehensive assessment, including a balance-sheet assessment” of all banks supervised directly. This will apply to around 130 banking groups operating in the euro area, which account for around 85% of euro area banking assets.