Margarita Delgado: The current challenges of the financial sector

Opening address by Ms Margarita Delgado, Deputy Governor of the Bank of Spain, at a KPMG event, Madrid, 10 July 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
16 July 2019
by Margarita Delgado
PDF full text
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  |  15 pages

Good morning, and many thanks to KPMG for the opportunity to inaugurate this meeting on the current challenges of the financial sector.

Dictionaries define a challenge as an objective or a task that is difficult to carry out, and which is a stimulus and a trial for the person facing it. I believe the challenges facing our banks conform perfectly to this definition; they are not in the least easy or straightforward to carry out, and sufficient motivation is clearly needed to tackle them. The challenges I refer to are fairly well-known and, generally, shared by all.

As supervisors we are always addressing two such challenges: improved profitability and improved solvency. I believe profitability and solvency should be related.