This has happened as the economy has grown, the population has aged, and demand for financial selfinsurance has increased. Moreover, demographic changes have also played an important role for American and European households. In a world with rising life expectancy, households tend to increase demand for savings as they face prospects of a longer life.
The Central Bank is in that respect striving to constantly promote a compliance framework that ensures the soundness and stability of our financial sector and to promote an effective compliance environment that not only deter problems, but also detect problems at an early stage.