Frank Elderson: Two issues to take on together

Keynote speech by Mr Frank Elderson, Executive Director of Supervision of the Netherlands Bank, at the European Banking Federation's Banking Summit "Building A Positive Future For Europe", Brussels, 2 October 2019.

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

At the end of the first day of the European Banking Federation's Banking Summit in Brussels, Frank Elderson gave a keynote speech. In his speech, Mr. Elderson highlighted two important topics that must be at the top of the agendas for the financial sector in the period ahead: combatting money laundering and greening the financial system. For both topics the financial community, and society at large, need to intervene collectively.

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We are all here today, bankers, policymakers, supervisors and politicians alike, because we all share a common responsibility. It's up to all of us to look to the future. To anticipate what this future may bring. And to make sure we prepare for it.

I am sure the grandeur of your surroundings has not escaped your attention. Our venue today, the magnificent Steigenberger Wiltcher's Hotel, was built over a century ago, in 1913. It was constructed in the late Art Nouveau style, as a Grand Hotel, and named after its founder, the Anglo-Belgian Sydney-Charles Wiltcher. Looking around you, you may be forgiven for thinking nothing here has ever changed. For over a hundred years. But no.