Today I would like to focus on three closely interrelated issues: first, I’ll discuss some key questions related to financial integration and financial stability, and second, I’ll touch upon the nexus between financial integration and financial stability on the one hand, and monetary policy on the other hand, highlighting some key challenges that the ECB faces today.
I’ll conclude my talk with some general remarks on the global perspective on financial regulatory reform. Financial stability and financial integration Policy debates on the relationship between financial stability and financial integration have intensified in the past few years and the topic has become a high priority on the research agendas of central banks and academia.