Therefore, I believe network analysis can make a relevant contribution and I am delighted that you have come together today to present and discuss new work in this field. Let me give you three questions (from the perspective of a policy-maker) which today’s workshop would ideally shed light on: •  What are the key channels and systemically important players that need special attention?
•  How can macro-prudential supervision take the interconnectedness into account? •  And can network methodologies provide us with a useful tool in this respect? With these questions in mind, I have structured my introductory remarks into three parts. I will first give a short assessment of the relevance of systemic risk in the modern financial system.