A great deal of market attention has focused on the exact timing of our first increase in the funds rate, but what matters for overall financial conditions is expectations for the entire trajectory of short-term interest rates.
It is our responsibility to ensure that banks operate safely and comply with applicable laws. This is why we must ensure that our regulatory and supervisory structures remain effective by constantly adapting them to changing technologies and business models. Since 2017, banks are allowed to have recourse to cloud-based services subject to the fulfilment of certain conditions. Our approach is one of open-mindedness.