The Bank emphasizes that the Board is ultimately responsible for governance of financial institutions, for employing the right persons in management positions and ensuring that the business functions and their risks are managed in line with Board expectations and in such a way that also serves the interests of the stakeholders.
The second session of today's conference will focus on the wider euro-area economy and on its potential for growth. Unfortunately, developments in recent years point to a rather poor performance on a relative basis, in particular, in comparison with the US economy.