Though the quantitative size of German FinTechs is (still) small, that means that our statistical picture may be missing out the most dynamic elements of the  financial sector landscape. This could potentially lead to statistical biases when measuring the size and growth of the financial sector as well as its value chains and thus its connectedness.
These reforms contribute to the reduction of incentives for risk-taking, they enhance the resilience of the financial system, and they strengthen the European institutional framework. Yet, some reforms have not yet been completed or fully implemented. Many of the new rules and institutions are still “untested”. Therefore, we must learn from past experience and address any shortcomings.