  Transparency: The Act embeds transparency around our mahi through the requirement to publish a Statement of Prudential Policy, which outlines how we will act as a prudential regulator and supervisor. In addition, we are required to publish an annual Statement of Performance Expectations and a Statement of Financial Risk Management.
To properly mark the occasion, I would like to talk about the global financial crisis and its roots, and the ECB’s response to the crisis. The global financial crisis and its roots Let me start by briefly highlighting the origins and evolution of the current crisis.