ContextSpeech to the European Banking Federation; the BIS serves central banks worldwide and calls for stronger bank supervision after the 2023 stress.
Why it mattersCarstens argues that supervision failed to catch the 2023 vulnerabilities.
Problems raised
Banking stress hit Europe and the US.
Central banks had to step in with liquidity.
Supervision failed to catch vulnerabilities.
Solutions proposed
Invest more in effective supervision.
Use technology to make supervision more productive.
