Edition
Foundations for innovative and resilient capital markets
Two major, interconnected shifts are shaping finance: the emergence of tokenised finance and the continued expansion of non-bank finance. Europe needs a strategic response.
A shared priority is to build foundations that foster integration, resilience, innovation and trust in capital markets. The LEGO example illustrates how creativity and innovation can rest on the way individual pieces connect, rather than on the sophistication of each piece. The example of an elaborate LEGO structure also shows that keeping a construction stable depends on strong foundations that support resilience.
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Original source
BIS Speeches
Date stated with the source: 12. 11. 2026
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