Today, as I hope I have adequately explained, we have a better appreciation for the role liquidity regulation should play in tandem with capital regulation and resolution mechanisms, and as a means for both complementing and limiting the LOLR function of central banks. We are well along the road of implementing regulatory and supervisory policies to play that role.
I would have liked to say that this simply shows the great importance that the ECB places in the development of sound and effective risk management practices in the financial industry.