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– covid - 19 and the uk ’ s withdrawal from the eu – but the longerterm changes were also in train. a year on, our need for resilience has been proven, but has grown as a result of the pandemic ’ s impact on our families and communities and on our social and nancial capital. we cannot anticipate every type of shock but we can build resilience. resilience is what has prevented the nancial system repeating its previous failure. resilience is what has protected households, businesses and communities against the worst of the damage from the shock of the pandemic. economic resilience is what helps communities to manage the disruption caused by change, and to manage the economic transitions we are living in right now. resilience matters to all of us, and we all have a role to play. 1 makhlouf, gabriel, the decade ahead ( 12 february 2020 ) 2based on the covid - 19 stringency index developed by oxcrt. 3 central bank of ireland quarterly bulletin no. 1 2021 https : / / www. centralbank. ie / news / article / speech - managing - risk - rebuilding - resilience - governor - gabriel - makhlouf - 11 - feb - 2021 6 / 7 11 / 02 / 2021 " managing risk, rebuilding resilience " governor gabriel makhlouf 4 the outlook for business bankruptcies, bis bulletin no. 30 ( 12 october 2020 ). see also irish company births and insolvent liquidations during the covid - 19 shock, central bank of ireland economic letter, vol. 2020, no. 13. 5 ecb banking supervision supervisory review and evaluation process ( 28 january 2021 ). 6 central bank of ireland quarterly bulletin no. 1 2021. 7 box 6 : irish - resident funds and the market disruption at the onset of covid - 19, central bank of ireland financial stability review i, 2020. 8 financial stability board work programme for 2021. 9 eu non - bank financial intermediation risk monitor 2020. 10 makhlouf, gabriel, making the case for macroprudential tools for the market - based nance sector : lessons from covid - 19 ( 29 june 2020 ). 11 https : / / www. ecb. europa. eu / euro / html / digitaleuro. en. html 12 the purpose of these roundtables is to communicate with our stakeholders, to build awareness