Even though major challenges remain to be tackled, as many of the acceding countries are still in the process of transition to fully-fledged market economies, I believe that the signing of the Accession Treaty at the Athens summit meeting on 16 April bore witness to our commitment to European integration.
Macro-prudential authorities should also assess exposures that exist between credit institutions and less regulated credit institutions. Second, under the current framework, macro-prudential instruments not included in the CRD IV and the CRR, such as loan-to-value and loan-to-income ratios, remain in the exclusive remit of national authorities.