The OLF is not prefunded, and the FDIC’s capacity to borrow to fund the OLF is capped at 90 percent of the fair value of the assets of the institution that are available for repayment. The provision of OLF liquidity does not fall ultimately on the American taxpayer. Shareholders may not recover until the OLF is repaid. The FDIC is authorized to assess financial sector participants if necessary to repay the funds advanced by the Treasury to fund the OLF. Reevaluate, but don’t forget the disorder of the crisis The breadth of changes that have been made to the regulatory landscape since the onset of the financial crisis is huge. Given the scale of the changes, it is entirely appropriate to take stock of these changes and reevaluate their effectiveness. It is not surprising to think that some recalibration might be necessary. It is also worth considering what additional reforms are needed to make the financial system more resilient and resistant to future, unanticipated shocks. Sometimes I get asked the question of whether the financial sector is where it needs to be in terms of resilience. My answer is usually that things are better, but they can get even better still. And I suspect that, in even the best case scenario, that will always be my answer. Because threats and risks evolve. Financial institutions, and regulators for that matter, must recognize changing risks and ensure that their approaches evolve in kind.
The book has been the first one to include a full set of statistical and historical data showing key indicators in the economic and monetary areas for the countries in South-East Europe, starting from the establishment of central banks in the 19th century to the end of World War II. The book has proven ever since its value and utility. Last year in Vienna, there was a proposal regarding further research work based on the information contained within the balance sheets of the central banks. Looking closer at the structure and the evolution of these balance sheets over time provides experts with useful insight as to how monetary policies have changed and have been implemented, how the main 1/2  BIS central bankers' speeches  operations have evolved, what profit the central banks have made and to what extent central banks have been able to secure and preserve their independence. I trust that the South-East European Monetary History Network could further capitalise on both the researchers’ experience of compiling the statistical and historical data series and the cooperation among central banks. The National Bank of Romania has always shown interest in monetary and banking history. In that respect, we are currently re-organising/redesigning the NBR Museum – which you are going to visit after lunch – aiming to bring to the visitors’ attention both pieces of history and the role of the central bank in shaping the economy, thus shaping history.