And along with increasing dependency on digitalisation, regulation and monitoring of risks will remain as important in the future as it is today. And this will have to be coordinated across the globe if authorities are to successfully safeguard against systemic stability problems and misuse of the financial infrastructure. Thank you very much for your time.
The proposal could also curtail interconnectedness within the financial system and hence reduce the likelihood of contagion. If consistently implemented, it would improve market discipline and redirect the European banking sector towards better serving the real economy and sustainable growth. 2  BIS central bankers’ speeches