22. Figures as at 31 December 2022 and at 31 March 2020 for pre-pandemic data; the figures are based on Bundesbank calculations and do not include branches of foreign institutions. 23. See https://www.bafin.de/ [https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Pressemitteilung/2022/pm_2022_01_12_antizyklischer_Kapitalpuffer_en.html] 24. See Deutsche Bundesbank (2022), p. 72. 25. See Kiel Institute for the World Economy (2022) and Ifo Institute for Economic Research (2022). 26.
What the membership of 65 in practice means is that three quarters of all the worlds systemically relevant banks, two thirds of all the big insurance undertakings, are being supervised by the membership of the NGFS. This gives us tremendous leverage on the financial sector. The members have a large set of instruments to ensure that what is being said is also being done.