* + net purchase; - net sale. ** EUR 1 in RSD. Depreciation pressures also stemmed from increased risk aversion amid uncertainty prevailing in the international financial market and households’ elevated demand for cash in the initial weeks of the conflict.
As I said, ensuring frameworks are t for purpose is a key element in meeting the challenges of the next decade. Stable and well-regulated nancial systems and well-functioning markets rely on them. For us, these include microprudential frameworks, macroprudential frameworks, and frameworks for consumer protection. And our focus is not just domestic, but European too. And we are adapting.