Taken together, these initiatives should ensure adequate minimum capital cushions, allow fair competition, maintain safety and soundness, and enhance financial stability. I am pleased to answer your questions. 6/6
(SLIDE 3) There is evidence that market liquidity conditions played a vital role in the widening of sovereign bond spreads during the crisis. This becomes apparent by taking a closer look at the French and German sovereign bond yield spreads. (SLIDE 4) In March 2009 the difference between the ten-year bond yields reached more than 50 basis points.