We have to assure our internal balance of powers. Again, this is not meant as a subtle reach for national privileges but  BIS central bankers’ speeches  3  instead as a call for institutional diversity. This is not to be confused with harmonised supervision, which remains ever paramount.
The challenge we face today is different in scope and character from those we have faced before. The coronavirus has spread quickly around the world, leaving a tragic and growing toll of illness and lost lives.