BIS central bankers’ speeches  1  •  In the face of the 2011–2012 escalation of the debt crisis (when the confidence collapse reached two systemic countries) we concentrated on banks’ loss of access to the wholesale market to address a major roll-over risk.
We are no longer the guardian of the guilder, but the co-guardian of the euro, in line with the deliberately chosen federal structure of the European System of Central Banks. In addition, we supervise banks and - following the merger with the PVK - also the pensions and insurance sector. We also advise the government on numerous issues.