/ history - of - the - division - of - banks. 3 michelle w. bowman, " reflections on 2024 : monetary policy, economic performance, and lessons for banking regulation " ( speech at the california bankers association 2025 bank presidents seminar, laguna beach, california, january 9, 2025 ). 4 12 cfr ยง 239. 8 ( d ). 5 see, e. g., michelle w. bowman, " tailoring, fidelity to the rule of law, and unintended consequences ( pdf ) " ( speech at the harvard law school faculty club, cambridge, massachusetts, march 5, 2024 ). 6 see, economic growth, regulatory relief, and consumer protection act, pub. l. no. 115 - 174, ยง 401 ( a ) ( 1 ) ( amending 12 u. s. c. ยง 5365 ), 132 stat. 1296 ( 2018 ). 7 see dissenting statement, " statement on the community reinvestment act final rule by governor michelle w. bowman, " news release, october 24, 2023. 8 see " statement on third party risk management guidance by governor michelle w. bowman, " news release, june 6, 2023. 9 michelle w. bowman, " approaching policymaking pragmatically ( pdf ) " ( remarks to the forum club of the palm beaches, west palm beach, florida, november 20, 2024 ). 11 / 12 bis - central bankers'speeches 10 see federal reserve bank of chicago, federal reserve bank of st. louis, and federal reserve bank of kansas city, " midwest cyber workshop 2024, " june 25 - 26, 2024. 11 michelle w. bowman, " the role of research, data, and analysis in banking reforms ( pdf ) " ( speech at the 2023 community banking research conference, st. louis, mo, october 4, 2023 ) ; michelle w. bowman, " the new landscape for banking competition ( pdf ), " ( speech at the 2022 community banking research conference, st. louis, mo, september 28, 2022 ). 12 / 12 bis - central bankers'speeches

sabine mauderer : welcome note - euro finance week - 10th china day welcome note by dr sabine mauderer, vice - president of the deutsche bundesbank, at the euro finance week - 10th china day, frankfurt am main, 18 november 2024. * * * check against delivery ladies and gentlemen. i am delighted to be here today! i would like to underline the vital and close economic relationship between china and germany. in july, i was in china to visit my dear collegues from the people's bank of china. this did not only emphasize our close ties with our colleagues at the pboc. no, it was overall an enriching experience. the hospitality and professionalism i encountered were truly impressive. i was particularly struck by the speed and innovation capacity demonstrated by the chinese and international corporates i visited, both, in beijing and shanghai. international corporates often referred to china as their " training or fitness centre ". germany and china can look back on a long history of economic cooperation, marked by mutual respect and a shared commitment to the economic development of our countries. these close ties have contributed to growth, created jobs, and fostered innovation in both countries. last year, the trade volume between china and germany surpassed €250 billion. 1 naturally, in any relationship there are challenges that need to be addressed to ensure its continued success. i am strongly in favour of a rules - based approach that ensures a level playing field in international trade. for this, but also generally, close dialogue and open communication are more important than ever. this holds especially in times where our economies are facing multiple headwinds and the global political landscape is increasingly uncertain. in this context, allow me to emphasise today how important economic cooperation is for our shared future. as we all remember, we encountered hard times just a couple of years ago. hard – yet insightful. i am referring to the covid - 19 pandemic. 1 a brief look back at a fragmented world – supply chains in the covid era 1 / 4 bis - central bankers'speeches i would like to elaborate briefly on how the covid - 19 pandemic exposed both the vulnerabilities of an interconnected global economy and its strengths. global supply chains were severely hit, as production sites had to close and transportation and distribution across various industries came to a halt. these disruptions had strong adverse effects on the german economy, which relies on efficient and smooth global supply