Thank you for your kind invitation. It’s a pleasure to be with you this afternoon to reflect on the first decade of European banking supervision and, most importantly, to take a look at the path ahead of us.

On this day ten years ago, the morning might have seemed just like a typical November morning in Frankfurt’s Bankenviertel: a rainy autumn day, with people heading to their offices armed with umbrellas, wearing heavy coats.

But that day ten years ago was anything but typical.

Because it was the first time European supervisory teams got together and started work on an important task: making sure the banking system is safe and…