Although the primary task of the ECB and the Eurosystem is to conduct monetary policy, there are also other tasks. It is only natural that up to now we have very much focused on our primary task, and there is thus ample scope for further reflection upon and implementation of these other tasks.
In this context I am referring to the task and role of the ECB in maintaining financial stability. All modern central banks are active in this area. They are involved in legislative processes relating to the financial sector and play a role in designing the market structure, in surveying the financial markets and in monitoring key players in the financial sector.