But efforts are also required at national level to make national institutions function in line with European legislation. Payment services is a further area where regulatory advances are of themselves insufficient to provide a working system that operates in a smooth and efficient way, that is still safe and respects European privacy provisions.
This is part of BOU’s on-going commitment to make investing in Government Securities easier and more accessible to the public. I also wish to acknowledge the role that this year’s award winner has played, especially for its participation in the primary auctions, market making capabilities, consistent pricing as well as timely market intelligence.