4 Doing so  2  See Board of Governors of the Federal Reserve System, “Federal Reserve Board Issues Final Rule to Expand Applicability of Small Bank Holding Company Policy Statement and Apply It to Certain Savings and Loan Holding Companies,” news release, April 9, 2015. Regulatory capital requirements will continue to apply to the depository institution subsidiaries of these companies.
It has challenged our understanding of key relationships in the economy, such as between unemployment and inflation. The ECB’s assessment has always relied on accurate research and analysis by economists and statisticians. On several occasions, this approach has been essential for accurately framing the problem and providing the coordinates for an effective response.