To respond to the economic and social impact of the health crisis, serious for all countries and especially dire for some of them, courageous decisions have been taken and new common instruments introduced. This is the real strength of a union; the premises for coming out of the crisis with renewed energy, all together, are encouraging; expectations must not be disappointed.
To that end, we have participated fully in the FSB’s shadow banking monitoring exercise and will work together to consider how best to implement recent FSB recommendations.17,18 Finally, we have moved forward in the implementation of the G-20 commitments for OTC derivatives.