I would like to conclude by coming back to Newton's experiment, where he split white light into the colours of the spectrum using a prism, and then recombined them using a second prism. After breaking the challenges of financial stability down into a spectrum of five questions – which are not exhaustive – I would like now to recombine them into a single certainty: we, as supervisors and regulators, we the ACPR, will do everything within our power to safeguard financial stability in the new macrofinancial landscape. I shall give the floor now to Dominique Laboureix: I would just like to congratulate him on his appointment as Chair of the European Single Resolution Board, and thank him warmly for his powerful work as Secretary General of the ACPR for the past three years. 1 Those subject to Solvency II. 2 The ECB Blog, Bitcoin's last stand, 30 November 2022. 4/4  BIS - Central bankers' speeches
Már Guðmundsson: Iceland’s recovery – facts, myths, and the lessons learned Speech by Mr Már Guðmundsson, Governor of the Central Bank of Iceland, at the Official Monetary and Financial Institutions Forum (OMFIF) City Lecture, London, 28 January 2016. *  *  *  Accompanying figures can be found at the end of the speech. Chairman, Ladies and Gentlemen, I would like to begin by thanking OMFIF for giving me the opportunity to speak to you here today in the City of London about Iceland’s recovery. This is interesting for me because, for better and worse, the UK and Iceland deeply shared some aspects of the financial crisis, and because the City of London has for decades been Iceland’s international financial centre. But it also gives me great pleasure to see so many in the audience who have in various ways helped Iceland over the years. Today I will focus on the recovery from the crisis and the current challenges, including the task of lifting capital controls. But the recovery cannot be understood without an understanding of the nature of the negative shocks that hit Iceland during the crisis. It is well known that Iceland was the first advanced country to experience a full-scale banking crisis in autumn 2008, when its three big cross-border banks failed. It was also the first advanced country to go on an IMF programme during the Great Financial Crisis.