In this particular case, when things are very idiosyncratic and the level of trust is extremely important, openness is achieved by word of mouth, relationships, or you, trusting somebody to refer you to somebody properly. 2/4  BIS - Central bankers' speeches  Therefore, we cannot avoid these issues. Are we ready? An even more important question [is]: Is the regulator ready?
Even when economic conditions in the United States have diverged from those in the euro area, the decisive action we have taken at the ECB has allowed us to deliver financing conditions appropriate for our economic cycle, decoupling from those in the United States.