, in turn, deserve even more attention than they have been getting thus far – think of climate change and the design of the european financial centre. as willy brandt put it : “ the best way to predict the future is to create it. ” the future won ’ t just happen – all of us in this room can shape it if we confront it at an early stage. i am expecting this day to provide much impetus for dealing with the future. in closing, let me say that i am looking forward to a rich and rewarding symposium and to many inspiring discussions here in the auditorium and outside in the lobby about how, through common action and joint dialogue, we can shape the future of banking and finance in a way that benefits everyone here and in the wider community. 7 / 7 bis central bankers'speeches

, tel : + 49 ( 0 ) 69 9566 3511 or 3512, fax : + 49 ( 0 ) 69 9566 3077 presse @ bundesbank. de, www. bundesbank. de reproduction permitted only if source is stated. analytical tools vary in their ability to answer these questions. which evaluation approach to choose depends on their relevance to the objectives of the evaluation, their feasibility and replicability for implementation across countries, and their costs in terms of resource inputs and data requirements. as shown by the first fsb evaluations, a robust evaluation strategy combines different ( both qualitative and quantitative ) analytical approaches. in addition to fleshing out analytical concepts, the fsb framework contains a number of arrangements concerning the governance of evaluation work. for instance, the framework recommends that the evaluation process should include means for engagement with external stakeholders. these may include the publication of information on forthcoming evaluation projects, public consultations on evaluation reports before publication, and the publication of evaluation reports. workshops and roundtables of fsb members with academia and participants from the industry and the civil society are means of interaction. the first two evaluations under the framework have been delivered to the g20summit in november 2018 : 7 • the first project investigates the extent to which post - crisis reforms incentiv - ized the central clearing of otc derivatives. it has been the aim of these reforms to make derivatives markets both, safer and more transparent. evaluation results suggest that reforms are providing the intended incentives for central clearing, especially for the most systemic market participants. • the second project evaluates the effect of reforms on the financing of infra - structure. it concluded that effects of the reforms on infrastructure finance were of second order importance relative to other factors such as the macro - financial environment, fiscal and monetary policies. the analyses do not point to a significant effect on the volume and cost of infrastructure finance, while there are some indica _ _ _ _ _ _ _ _ _ _ _ _ _ consultative and final reports are available at : https : / / www. fsb. org / work - of - the - fsb / implementationmonitoring / effects - of - reforms / seite 8 von 13 deutsche bundesbank, directorate general communications wilhelm - epstein - strasse 14, 60431 frankfurt am main, germany, tel : + 49 ( 0 ) 69 9566 3511 or 3512, fax : + 49 ( 0 ) 69