1 Financial Integration and Structure in the Euro Area: https://www.ecb.europa.eu/pub/fie  /html/ecb.fie202003~197074785e.en.html#toc1 2 4 Challenges for the financial industry and the best tech solutions to fight them, Rocky  Osborn, November 2020. 3 Financial Stability Review, November 2021:https://www.ecb.europa.eu/pub/financial-  stability/fsr/html/ecb.fsr202111~8b0aebc817.en.html 4 EU structural financial indicators: end of 2020: https://www.ecb.europa.eu/press/pr  /date/2021/html/ecb.pr210526~7469dedaaf.en.html 5 Financial Stability Implications from the FinTech, Financial Stability Board, 27 June  2017. 6 DORA is a European attempt to streamline the third-party risk management process  across financial institutions, by ensuring that an organization can continue to guarantee the continuity and quality of its services in the face of operational disruptions in information and communication technologies. 4/4  BIS - Central bankers' speeches
3  Reinhart, C. and K. Rogoff, 2009, “This Time Is Different: Eight Centuries of Financial Folly”, Princeton University Press. 4  Gorton, G. and A. Metrick, 2009, “Securitized Banking and the Run on Repo”, NBER Working Paper 15223. 5  Reinhart, C. and K. Rogoff, 2009, “This Time Is Different: Eight Centuries of Financial Folly”, Princeton University Press. 6  Roubini, N. and X. Sala-i-Martin, 1995, “A growth model of inflation, tax evasion, and financial repression”, Journal of Monetary Economics, Vol. 35(2), pp. 275–301  BIS Review 126/2010  5