In the autumn, we will launch a new series of debates looking at the impact of structural change – digitalisation, demographics, decarbonisation and deglobalisation – on competition and risks in the banking sector. We will also participate in the events to mark the 10th anniversary of the Single Supervisory Mechanism next year. The SSM (Single Supervisory Mechanism) is an example of successful integration.
I understand that credit derivatives were discussed in yesterday’s session, so you probably have already heard some perspectives on this topic. Under U. S. generally accepted accounting principles, credit derivatives are generally required to be recognized as an asset or liability and measured at fair value, and the gain or loss resulting from the change in fair value must be recorded in earnings.