1/2  BIS central bankers' speeches  In Lithuania, macroprudential policy was a key domain of the regulatory response package. Prior to 2020, critics would say that our macroprudential set-up was perhaps too wide-ranging. But this crisis showed, I believe, that our policy stance was the right one.
On the other hand, banks would also need to recover costs to fund their existing and future technological requirements to maintain and improve their service level. Thus, the banks must find ways of balancing the two sides appropriately. Is this best left to banks or regulators/government? How can banks help in moving towards a less-cash society?