The Financial Stability Institute has already carried out an insightful cross-country comparison on proportionality in banking regulation. I am sure that Stefan Hohl will tell you more about it in a few minutes.
I am particularly attentive to any signs that currently high inflation readings are pushing longer-term inflation expectations above our 2 percent objective. Currently, I do not see such signs. Most measures of survey- and market-based expectations suggest that the current high inflation pressures are transitory, and underlying trend inflation remains near its pre-COVID trend.