Regulatory reform, the new emphasis placed on macroprudential supervision and the measures to strengthen financial market infrastructures, are all key elements on our path towards greater financial stability and an important complement to strengthened risk management and disclosure at the level of financial institutions, Gertrude Tumpel-Gugerell, a member of the European Central Bank's executive board, on Tuesday said.

Tumpel-Gugerell told an audience in Brussels: "It is now of key importance