Claudio Borio: The Challenge of Large, Complex Financial Institutions (2/7)

What is the main topic discussed in the presentation?

What are the two contrasting views of sovereignty mentioned?

How does the speaker view the concept of sovereignty?

What is the countercyclical capital buffer and its purpose?

What does the speaker suggest is necessary for the countercyclical capital buffer to be effective?

What does the speaker mean by the 'paradox of financial instability'?

What is the significance of the credit to GDP ratio in the context of the countercyclical capital buffer?

What are the challenges associated with international cooperation in the context of the countercyclical capital buffer?

How does the speaker propose to address the indicator problem in banking supervision?

In what way does the countercyclical capital buffer aim to reconcile sovereignty with effective supervision?