Nevertheless, looking ahead, one can expect the international role of the euro to develop further. An established track record of the Eurosystem with reference to its primary objective of price stability and continuing integration of financial markets in the euro area will undoubtedly contribute to the further internationalisation of the euro. BIS Review 103/2000  4
Macroprudential tools for insurance companies could prevent a collective build-up of exposures or dampen amplifiers to avoid spillovers to other sectors. As the Bundesbank pointed out in its latest Financial Stability Review, two examples of instruments under discussion in international fora are insurer-specific systemic capital add-ons and countercyclical capital buffers.1 Three aspects, I believe, are particularly crucial in this context.