It is important now to keep up the legislative momentum, also at the national level, in order for the SSM and the SRM to become operational within approximately one year. It is worth acknowledging the very significant progress that has been made in less than two years on Europe’s ambitious commitment to build a genuine banking union.
Over the past five years, the domestic economy expanded by more than 6 percent annually, providing more opportunities across all segments of society. Traditional Central Banking Let me share an open secret: Central Banks worldwide (and the BSP is no exception) are traditionally conservative institutions and some would argue, boring. Understandably so since stability is our main concern.