And together with BaFin, the Federal Financial Supervisory Authority, we supervise around 1,800 German financial institutions and play a role in European banking supervision under the aegis of the ECB. More tasks have been added to our agenda since the financial crisis. One is the statutory mandate given to the Bank in 2013 to contribute to financial stability within Germany.
The processes by which risk appetites are set and activity managed so as to conform to these risk appetite decisions are central to determining outcomes, and thus the firm’s near-term profitability and longer-term stability.