Complexity and opacity led to inadequate understanding and mispricing of risk. The long chain of transactions also obfuscated the true risks inherent in the transactions and led to a false sense of comfort.
Sabine Mauderer: Keynote speech - F20 Climate Solutions Week 2020 Keynote speech by Dr Sabine Mauderer, Member of the Executive Board of the Deutsche Bundesbank, at the F20 Climate Solutions Week, Frankfurt am Main, 15 September 2020. * * * Ladies and gentlemen, We are going through challenging times. The COVID-19 pandemic has caused disruptions to our societies and our economies.