As regards the establishment of the new EU financial supervisory framework, it is important that the legislative process concerning the proposals made by the Commission in September 2009, which are currently being discussed by your Committee, is completed as expeditiously as possible and that all relevant parties reach an agreement on the legal texts so that the European Systemic Risk Board (ESRB) and the three new European Supervisory Authorities (ESAs) are operational by 1 January 2011.
The latest observations are for the second quarter of 2020 for realised data and the fourth quarter of 2022 for projections. The pandemic shock has left its mark on inflation dynamics.