In 2021, we witnessed a vigorous economic recovery, which was strongly underpinned by the appropriate measures taken by public authorities and central banks beginning in 2020. France’s financial sector performed extremely robustly in this setting, helping to finance the upturn. I would like extend my warmest thanks to the 1,050 women and men who make up the staff of the ACPR. Their dedication and hard work played a huge part in establishing the conditions to ensure that the financial system was resilient and able to support our economy.
However, major new uncertainties surfaced in early 2022 as Russia invaded Ukraine. The ACPR is monitoring the geopolitical situation and its financial consequences closely at both micro and macroeconomic levels, while also keeping a watch on cyber risk developments. Meanwhile, the financial sector continues to face huge structural challenges, led by the digital and climate transitions.