Furthermore, the extent to which pricing was done at the  BIS central bankers’ speeches  3  previous level of the exchange rate could determine the extent to which producers can absorb the increased prices and costs. We must also distinguish between a once-off depreciation and a continuous depreciation.
An efficient structuring of the flow of information and of the cooperation between the supervisory bodies involved is also important. ·  Harmonised supervisory rules as well as their consistent application in practice are essential for creating a "level playing field" for the financial institutions in the different sectors.