We laid out our overall approach to adherence to the Code in New York last month 6 and we intend to work closely with market participants in the coming year to facilitate the development of market-based mechanisms which demonstrably embed the Global Code within firms’ culture and practices.
*  *  *  Thank you for inviting me to participate in the celebration of the 125th anniversary of the first Danish savings bank act. I have been asked to speak about Danmarks Nationalbank's tasks in relation to financial stability under the main heading of "Financial crises". Financial crises can involve very serious costs.