most common types of attacks like phishing or denial of service attacks. to give you an example : on average, we receive a phishing attack every 5 minutes. that's why the principle " secure by design " is of crucial importance from the very beginning when developing and operating it solutions and services. the bundesbank has just rolled out a new governance model for it security in order to create the basis for effectively counteracting growing threats. concretely, we are appointing a designated " security architect " in each bundesbank department who serves as the go - to person for all architecture - related security concerns. the security architect will support product owners and agile teams in implementing security processes and regularly evaluating the impact of securityrelevant information. this role is complemented by " security champions " within each product team. these champions will help maintain the required level of information security throughout the entire product lifecycle, including regular checks for new vulnerabilities. the governance model includes not only dedicated roles and responsibilities but also professional development and training measures for all staff in order to sensitise them to the fact that it security is a critical discipline for everyone. 5 conclusion to conclude : by keeping up with technological developments, playing an active role in providing future forms of payment and of course safeguarding our security, the bundesbank contributes to the competiveness of the german and european economy. this is more relevant than ever in the current geopolitical context. that's why i'm thrilled to participate in this excellent conference and exchange. 3 / 3 bis - central bankers'speeches

axel a weber : the ecb and its watchers - 1999 - 2006 speech by professor axel a weber, president of the deutsche bundesbank, at the cfs research conference : the ecb and its watchers viii, frankfurt am main, 5 may 2006. * * * review - seven years of “ the ecb and its watchers ” ladies and gentlemen, it ’ s a real pleasure for me to give you a short review of the ecb watcher conferences over the period from 1999 until today. most of you will know that i myself organised this event from 1999 until 2003. so be warned : my review of this conference and its impact might be slightly positively biased! but nevertheless, my primary conclusion is very likely to be undisputed. for good reasons, the ecb watcher conferences organised by the cfs have become a central part of the yearly agenda for everyone interested in a serious monitoring of european monetary policy. starting in 1999, we wanted the conference to fulfil three main functions : • firstly, the professional ecb watchers should be provided with a regular platform for communicating their evaluation of ecb policy actions directly to the ecb policy makers ( rather than addressing them indirectly through the press ). • secondly, the conferences should give ecb representatives the opportunity to directly respond to the watchers ’ assessments. • finally, the conferences should generate an intellectual competition among the various monitoring groups. reviewing the conferences that have taken place so far, i can conclude that, happily, these objectives have been achieved. especially the direct communication between watchers and ecb officials is a special asset and a central part of the uniqueness of these events. one could add that the conferences have not only generated an intellectual competition among watcher groups, but have also posed an intellectual challenge to the ecb and its officials participating in a wide array of panels. as a result, not only the public, but also the ecb and the entire eurosystem have learnt a lot from the exchange with watcher groups in the context of the annual watcher conferences. over the years, the topics discussed at these events have covered all issues that were and are still highly relevant for monetary policy in emu. let me give you some examples : • monetary policy strategy • monetary and fiscal policy coordination • central bank communication • european financial integration • eu enlargement • international role of the euro • global imbalances but i do not want to provide you with further details with respect to