1  Opinion of the European Central Bank of 25 January 2012 on a proposal for a Directive on the access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms and a proposal for a Regulation on prudential requirements for credit institutions and investment firms at http://www.ecb.europa.eu/ecb/legal/pdf/en_con_2011_5_f.pdf  2  BIS central bankers’ speeches  This shortcoming was realised both globally and in the EU.
It  BIS Review 114/2006  1  is now well known how we overcame the financial crisis, so let us now leave it behind us and move on to what lies ahead.