We hope your different backgrounds help us tackle the questions that are facing us. Today and tomorrow, we would like to address four of these questions. We start with the question of why big cities are so popular, and whether this popularity is here to stay. The first session will be devoted to this question.
In July this year, the ECB published the aggregate results of its vulnerability analysis of banks directly supervised within the Single Supervisory Mechanism (SSM). Even under the adverse scenario presented in the exercise, the weighted average CET1 ratio remains large enough, and banks can generally continue their role of lending to the economy.