Jean-Claude Trichet: What can central banks do in a financial crisis? Speech by Mr Jean-Claude Trichet, President of the European Central Bank, on the occasion of the Susan Bies Lecture, Kellogg Distinguished Lecture Series, Evanston, Illinois, 27 April 2010.
To achieve that resilience, financial regulators focus on vulnerabilities rather than on risks. We identify those vulnerabilities through rigorous monitoring, but they can also be exposed by certain events. Events of all shapes and sizes. Each event, each change, each shock gives us new insights – we learn lessons that help strengthen the stability of the financial system.