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Finance

Finance

Traditionally, regulation and supervision have played a key role in developing the banking sector. They have ensured its stability and solvency, the protection of its consumers and the improvement of its efficiency. Now, regulatory and supervisory authorities are faced with an additional challenge: to draw up a regulatory framework that achieves the right balance between promoting new digital value propositions and protecting against the risks inherent to the digitalization of financial services.

Bitcoin, the digital currency whose anonymity attracted drug dealers and tax evaders, is on a roll again. But after a renewed price spike that echoes its first speculative bubble three years ago, even many of the currency's backers warn that another sharp correction is likely to follow.

The European Central Bank (ECB) today announced the outcome of the third auction of TLTRO (targeted long-term refinancing operations). These long-term financing operations aim to stimulate lending in the euro zone. The demand for additional liquidity has reached 47.9 billion euros. In the first auction of the TLTRO-2, the demand for additional liquidity was 36 billion euros and, in the second, was 34 billion euros.