Meanwhile, global financial and capital markets have become unstable rapidly since late February with deterioration in investors' risk sentiment. As a result of swift and aggressive responses taken by the government and central bank in each country and region, tension in financial markets has abated somewhat. However, the markets have remained nervous due to a decline in liquidity.
Outside of the Banking Union priority we are focusing on certain Markets and Consumer files and I will deal briefly with them. BIS central bankers’ speeches  7  MiFID II/MiFIR This proposal aims to make financial markets more efficient, resilient and transparent and to respond to the challenges of new trading venues, products and technological developments.