We also need to restore trust in the banking sector, which is key to improving lending conditions to the real economy. In this regard, the comprehensive assessment of euro area banks will be crucial. •  Moreover, with the new governance framework the Member States have taken key steps towards internalising economic and financial spillovers within EMU.
Recent advances in technology and innovation have created the potential for a structural transformation in payment and financial services (platform payments and platform finance). The inclusion of networks with a wide customer base in the financial ecosystems, the so-called Bigtechs, seeks to link customers with financial services, either provided by financial intermediaries or themselves.