As students at the ESSEC business school and as future economists, bankers, start-upers and researchers, you will have a big role to play to ensure that, irrespective of the big changes to come in tomorrow’s financial intermediation, our compass continues to point toward the common good of financial stability. Thank you for your attention. 1 5/6  BIS central bankers' speeches  1 Cambridge Centre for Alternative Finance, 3rd European Alternative Finance Industry Benchmarking Report,  2018. 2 Baromètre 2018 du crowdfunding – KPMG/FPF (January 2019). 3 The Road ahead, 1995. 4 Madre. 6/6  BIS central bankers' speeches
Among the foreign institutions, I would like to highlight the successful cooperation with the Bank for International Settlement, the International Monetary Fund, the World Bank, EUROSTAT, etc. in the area of exchange of statistical information. I would particularly like to note that this year, the National Bank officially became a member of the Irving Fisher Committee on central bank statistics that operates within the International Statistical Institute, and represents a forum of central bank economists and statisticians. This is a good opportunity to improve the statistics of the National Bank, since the primary objective of the Committee is to promote an exchange of viewpoints between the economists, statisticians and central bank policy makers, on all relevant statistical issues of interest for the central banks. The State Statistical Office, as an institution responsible for the official state statistics, that produces data covering various sectors in the economy, is an indispensable source of data for the needs of our analyses. So far, we have a successful cooperation with the State Statistical Office, underpinned by the Agreement on Mutual Cooperation and Exchange of Data. Our macroeconomic analysis mainly make use of the data covering the real sector of the economy, such as data on prices, economic activity, employment, wages, etc., as well as data on the foreign trade sector.