to share our assessments and to offer our technical expertise. our commitment is to make supervision and regulation more effective in preserving bank resilience. 1 the ratio for each eu member state is calculated by summing the non - performing loans and total loans of all banks in the sample within each member state separately and then dividing the two figures. for more details, see methodological note for the publication of aggregated supervisory banking statistics for significant institutions ( sis ). 2 see ecb ( 2023 ), it and cyber risk – key observations. the results of the 2024 edition are set to be published by end of this year. 3 see ecb ( 2024 ), " ecb concludes cyber resilience stress test ", press release, 26 july. 4 see elderson, f. ( 2024 ), " you have to know your risks to manage them – banks'materiality assessments as a crucial precondition for managing climate and environmental risks ", the supervision blog, 8 may. 3 / 4 bis - central bankers'speeches 5 see ecb ( 2024 ), " ecb consults on governance and risk culture ", press release, 24 july. 6 see buch, c. ( 2024 ), " reforming the srep : an important milestone towards more efficient and effective supervision in a new risk environment ", the supervision blog, 28 may. 4 / 4 bis - central bankers'speeches

bis central bankers'speeches distinct business cycle. after the crisis, supervisors are given many powers and large numbers of staff. but then it tapers off, and it becomes increasingly difficult to push things through. would you say that your experiences during the financial crisis have made you a tad tougher and more strict? oh yes, definitely. ms lautenschlager, this is our interview box, we always use it in our interviews. i ’ ll pass it over to you. for each guest we have on the programme, we put something appropriate into this box. would you like to open it? ah! boxing gloves? yes, small boxing gloves that you can hang on your car mirror. lovely, thank you. they ’ re a fitting gift for you, aren ’ t they? yes. could you sometimes use such boxing gloves when dealing with bank managers? but don ’ t boxing gloves actually soften the blows? they probably wouldn ’ t be suitable... but i wouldn ’ t only think of them in connection with bank managers. but simply.. so you would prefer to be bare - fisted? no, i prefer transparency, in the first instance, and precise instructions. and i think if you ’ re working in a kind of authority, i. e. with the competence to take administrative measures – sorry, but i am a lawyer, after all – you must give precise instructions. you should not be vague, but that doesn ’ t have to be forbidding. the underlying tone does not have to be nasty ; the message must simply be very clear : that is not good enough. you have to remedy the issue. i will give you a certain period of time in which to do so, otherwise.... and i think that every supervisor needs to have that capacity if they want to succeed. staying with the boxing metaphor for the moment, could we say that you had to fight your way up from modest beginnings. no, i would not say that. your father was a pastry chef? yes, my father is a pastry chef. my mother was a waitress. so, in that sense, i suppose it ’ s fair to speak of modest beginnings. what kind of upbringing did you have? i was brought up in the firm belief that i could do anything if i put my mind to it. my parents set great store by me having the good education that they never had themselves. there ’ s something else for you in the box, could you take