2/4  BIS central bankers' speeches  Challenges and opportunities for the European banking sector Almost ten years have elapsed since the turn of the financial cycle. While European banks still face a number of challenges stemming from the financial crisis, the firming economic recovery presents opportunities for them.
In May 2003, in line with the need of anti-money laundering development, the State Council designated the PBC as the leading government department for anti-money laundering in China.