SPEECH - Wim Duisenberg, president of the European Central Bank, gave a speech on Apr 4, 2001 about the developments in electronic finance and the implications for banks. He is optimistic of the benefits, such as a more efficient allocation of capital, but also warns of the risks that the new trading systems might not have been properly tested under conditions of extreme financial turbulence and high trading volumes. He also confirms that ECB's "wait and see" monetary policy stance.

"E-economy