With more flexibility come new responsibilities Nevertheless – and here I have to put the strongest emphasis – with more flexibility come new responsibilities. While becoming more open to innovations, we – I mean both industry and regulators – cannot turn a blind eye on the associated risks. First of all – cyber risks, which, under intensifying digitalisation processes, attract elevated regulator attention.
As for the financial environment, the environment for corporate finance is becoming somewhat more accommodative on the whole, although it is still severe for firms with high credit risks. The issuing environment for CP and corporate bonds is favorable on the whole, especially for firms with high credit ratings. Also, the lending attitudes of private banks have been slightly more accommodative.