peter nicholl : recent banking sector developments in bosnia and herzegovina speech by mr peter nicholl, governor of the central bank of bosnia and herzegovina, at the ceremony of the taking over of hrvatska postanska bank by raiffeisen bank, mostar, 5 may 2001. * * * i want to congratulate the two banks, raiffeisen and hrvatska postanska, on the step they are taking today. they are taking part in a process the central bank of bh has been promoting for some time now – the consolidation and strengthening of the commercial banking sector in bh. this process is very important. an efficient banking system is a crucial part of market economy. it encourages savings and it promotes investment and employment by lending those savings for business development, housing and other purposes. the year 2000 will be seen as the year in which the banking sector in bh finally began to change for the better. i will mention just a few of the highlights. first, the payments system underwent fundamental reform. bh now has a modern european - type payments system. second, minimum capital requirements for banks were increased and will increase further. third, it become possible for a bank registered in one entity to operate branches in the other entity. five banks are already doing so, and more will follow. fourth, a limited deposit insurance scheme has started which should help return citizens confidence to the banks that qualify. so far, only four banks have been admitted to the scheme and it is only operating in the federation. last, but not least, more foreign banks commenced operations in bh in 2000, either by applying for licenses directly or by purchasing an existing bh bank. increased foreign competition will be very good for the bh economy. it will give depositors more choice and will force the local banks to improve the range and quality of the services they provide if they want to survive. one can already see these effects occurring. there is still a long way to go before bh has a banking sector that can play the major role the banking sector plays in most other countries in europe. but 2000 will be seen as the year in which the bh banking sector finally began to move in the right direction. it is certain that the speed of change in the banking sector will accelerate even more in 2001. the overall winners from the improvement in the banking sector will be the customers of banks and the economy of bh. today ’ s event is part of the acceleration of

sabine mauderer : green transition in germany – short - term needs and long - term opportunities speech by dr sabine mauderer, member of the executive board of the deutsche bundesbank, at the kfw " capital markets conference on energy transition for germany ", frankfurt am main, 9 july 2024. * * * check against delivery 1 introductory remarks ladies and gentlemen, last friday, we found out that germany is not going to be the next european football champion. unfortunately. but what i can tell you today is that – fortunately – germany is the european champion when it comes to registered patents. and it is competing at the top level globally, too. as you know, germany has been through challenging times in recent years : 2020 marked the beginning of the global covid - 19 pandemic that triggered a severe supply shock. in early 2022, war broke out in europe, causing, first and foremost, immense human suffering in ukraine, but also economic disruption across the continent. at that time, it also became painfully clear how dependent germany had become on importing fossil fuels. this also translated into higher prices. in october 2022, inflation in the euro area reached an all - time high of 10. 6 %. 2 situation today so, let's have a look at the situation today. we overcame the pandemic, thanks in part to a vaccine developed in germany. and as for the economic fallout, luckily only a small percentage of companies went bust. this year, the economy has started to pick up again. the eurosystem managed to bring inflation in june down to 2. 5 %, less than two years after inflation peaked. representatives from twenty different european countries worked together to set monetary policy in a way that brought euro area inflation back towards its 2 % target. this shows that europe works! i expect the same dedication to complete the capital markets union. at the same time, the labour market has been robust. according to eurostat, the unemployment rate in may is stable at 6. 4 % in the euro area, and just 3. 3 % in germany. 1 german businesses are well aware that international recruitment is needed to manage the demographic challenges. numerous ceos have made that very clear. 1 / 3 bis - central bankers'speeches our political system in germany is an anchor of stability. these days, we all know how important that is, also from an investor's point of view. furthermore, germany's fiscal situation is sound