3  See Wheeler (2013), ‘Decision making in the Reserve Bank of New Zealand’, remarks by Graeme Wheeler, Governor of the Reserve Bank of New Zealand, 7 March 2013. BIS central bankers’ speeches  1  on the appropriate setting for monetary policy. The Governing Committee consists of the Governor, the Deputy Governors and the Assistant Governor.
Or even worse, a combination of the two if we don’t find a clear solution to the infamous sovereign-bank nexus. We must consistently guard against such developments. The priority must therefore be to complete the banking union and to establish the capital markets union, as well as regulatory clarity on how to avoid excessive risk concentration on banks’ balance sheets.