Towards a more stable financial system  This brings me to the last part of my remarks today. The move towards a more stable financial system has been set in motion on a number of different fronts.
I mentioned the enhancement of macro-prudential analysis and policy with a view to identify, in a timely manner, risks of a systemic nature and to respond with warnings or targeted policy measures to address them. This was at the centre of my talk, since this is where the ESRB will play an important role in safeguarding financial system stability at the EU-wide level.