they should not hamper new technologies but, at the same time, they should regulate them in a risk-oriented manner. With this in mind, European regulators have established important guardrails for dealing with new technologies such as crypto-assets. [29] It is clear that supervision and regulation must take climate risks into account.
Taxpayers must be spared the burden of other people’s investment decisions – at the national level and even more so at the European level – for as long as there is no proper balance between liability and control. Ladies and gentlemen, I have very briefly highlighted a few arguments in favour of European banking supervision – the “why”, so to speak.