The new statistics fit in well with the much used term “lessons learned from the financial crisis”. At the same time, the new developments are the outcome of a process that has been pursued pro-actively and with a longer-term view, rather than re-actively and with a focus on the recent crisis.
Indeed, the development process started before the financial turmoil that escalated into a genuine crisis. The process involved the euro area as well as other EU countries. It was motivated by the need to fill gaps caused by the ongoing financial innovation and by structural changes within financial products and the financial sector.