But so long as banks and other lenders to these ventures are managing their credit risks effectively, this necessary adjustment should not pose a threat to financial stability.
In the context of the international regulatory advancements I have just outlined, I would like to reassure you that the ECB’s commitment to follow a risk-based approach to C&E risks will remain strong in the future too. Together with you, the internationally active banks, we can ensure that the same level of ambition in tackling C&E risks is kept around the world.